Bloody Hell

[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.

Comments

[interactiveleaf.livejournal.com]

You didn't know? Sorry, I thought everyone knew.

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

[andrewducker]

P Diddy?

[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

[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...

[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.

[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.)

[interactiveleaf.livejournal.com]

Well, given the options you've laid out, I guess you have a 50/50 chance of being right. :D

[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.

[andrewducker]

Cheers - if you hear more, let me know!

[drjon.livejournal.com]

Why did nobody tell me that Saudi Arabia had left OPEC?

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

[andrewducker]

So you did!

Might have been you I got the link from then.

[drjon.livejournal.com]

Me or theweaselking.

[andrewducker]

You are both linktastic!

[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.

[andrewducker]

I know - I love how the "natural" price of oil has trebled/quadrupled in the last five years.

[johnbobshaun.livejournal.com]

Which reminds me of this. Rob Newman explaining the OPEC situation with the aid of Salvador Dali.