andrewducker: (Santa)
[personal profile] andrewducker
Why did nobody tell me that Saudi Arabia had left OPEC?

Next up - more of the oil producing countries converting to using the Euro.

Date: 2008-09-13 05:19 pm (UTC)
From: [identity profile] interactiveleaf.livejournal.com
You didn't know? Sorry, I thought everyone knew.

Apparently P. Diddy has a lot more influence than I'd realized.

Date: 2008-09-13 05:44 pm (UTC)
From: [identity profile] interactiveleaf.livejournal.com
P. Diddy not using jet until oil price drops
Aug. 27, 2008 09:34 AM

P. Diddy has vowed not to use his private jet until the price of oil comes down.

The 38-year-old music mogul – who came third in Forbes.com’s recent list of Hip-Hop Cash Kings – promised to only use commercial airlines until fuel prices are reduced.

After revealing two round trips between Los Angeles to New York on the jet cost him a staggering $200,000, P. Diddy said: “Gas prices are too high. As you know, I do own my own jet and I have been having flying back and forth to Los Angeles pursuing my acting career. Now, if I'm flying back and forth twice in a month that's like $200,000 or $250,000 round trip. I'm back on American Airlines right now, OK.”

Speaking from an airport lounge on his YouTube video blog, he added: “I want to give a shout out to all my Saudi Arabian brothers and sisters and all my brothers and sisters from all the countries that have oil, if you could all please send me some oil for my jet I would truly appreciate it.

"But right now, can you believe it, I am actually flying commercial. That's how high gas prices are, so I feel you. Look, I'm at the gate right now!” P. Diddy, real name Sean Combs, is said to be worth $346 million.


I believe what the Saudis said was that they'd produce oil for every customer that wanted it. :D

Date: 2008-09-13 07:52 pm (UTC)
From: [identity profile] nmg.livejournal.com
I believe what the Saudis said was that they'd produce oil for every customer that wanted it. :D

As opposed to the more usual OPEC tactic of restricting production to inflate prices...

Date: 2008-09-13 08:10 pm (UTC)
From: [identity profile] interactiveleaf.livejournal.com
Yep, this seems to be a sea change.

You gotta wonder if the US's policy of befriending the Saudi royal family is finally paying off.

Date: 2008-09-13 08:25 pm (UTC)
From: [identity profile] endless-psych.livejournal.com
It could be more likely to be an attempt to persuade America to either leave the middle east or retain a prescence. Whichever is more of a political advantage to the Saudis. (I suspect remain.)

Date: 2008-09-13 08:40 pm (UTC)
From: [identity profile] interactiveleaf.livejournal.com
Well, given the options you've laid out, I guess you have a 50/50 chance of being right. :D

Date: 2008-09-13 08:16 pm (UTC)
matgb: Artwork of 19th century upper class anarchist, text: MatGB (Default)
From: [personal profile] matgb
Because as far as I can see it's journalistic hyperbole? They dissented with the majority and said they'd only put in a partial decrease in production instead of the full amount.

They're still listed as members and were in the meetings the next day. It likely means a weakening of the cartel, but it's not dead and they haven't formally left. Unless there are better sources stating they have than wikipedia and an MSN blog.

Date: 2008-09-13 11:08 pm (UTC)
From: [identity profile] drjon.livejournal.com
Why did nobody tell me that Saudi Arabia had left OPEC?

Well, I did mention it two days ago...

Date: 2008-09-15 08:43 am (UTC)
From: [identity profile] drjon.livejournal.com
Me or theweaselking.

Date: 2008-09-14 09:16 am (UTC)
From: [identity profile] cheekbones3.livejournal.com
That does surprise me. I'd only heard about the cut in production which made me laugh, as it's really not that long since they were targeting a price of about $25 as being roughly ideal.

Date: 2008-09-14 12:11 pm (UTC)
From: [identity profile] johnbobshaun.livejournal.com
Which reminds me of this. Rob Newman explaining the OPEC situation with the aid of Salvador Dali.

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