Why OPEC need to defend price of crude ?

[congo9]

Just don understand these oil producing nation. They are profiting with the oils. Now is around US$80 per barrel !

Last time round during 2003/4, it is hovering around US$35. They had been earning super normal profit and this lead to increase of everything on planet earth !

Why are they so greedy ?

 

[annexa]

Because they build many small palmleaf islets and empty gold palace now contractor ask them pay!

 

[nitecrawllerr]

Thats why we should look for alternative energy instead of just crude oil. Palm oil for instance. Prices have come down substantially lately.

 

[chinkangkor]

We will have to fight with only rifles and bayonets if oil drys up one day. All the aircraft carriers, tanks and fighters jets are useless without oil. Submarines run by nuclear energy will be king.

 

[Conan the Barbarian]

Just don understand these oil producing nation. They are profiting with the oils. Now is around US$80 per barrel !

Last time round during 2003/4, it is hovering around US$35. They had been earning super normal profit and this lead to increase of everything on planet earth !

Why are they so greedy ?

The same reason why PUB needs to increase tariffs. Why sell low when you can sell high.

 

[Nomad]

this is their times,if they do not defend it,then their revenue and asset will go down just like those trouble banks.

 

[johnny333]

Why are they so greedy ?

Why PAP ministers expect pay hike when they alreay make a few time more than the President of USA?

Expectations change, now want to buy more properties, want to put more in swiss account, etc.