BMW X6 Hybrid .

The president of OPEC, Mr.Jose Maria Botelho de Vasconcelos said Monday (16-11-2009) in Abu Dhabi that the cartel is satisfied with the crude price betweenMr.Jose Maria Botelho de Vasconcelos also mentioned that world demand for crude could rise to 20 million barrels per day and reach the 106 million barrels per day by 2030.

According to WorldWatch the real situation is much different, what happens in 20 years time cannot be predicted, crude demand has in fact declined this year alone by more than 12%, if crude prices are not controlled and kept around the $75 and $78 per barrel, then we will see a further decline in demand and subsequently alternative energy sources will be developed to a new level. If OPEC and speculators inflate prices to around $80 per barrel then they should be prepared to face further decline in demand as most nations are struggling to recover from the worst recession since the Second World War.

High crude prices is the best boost for development of effective alternative energy sources, as has been the case with almost all car manufactures, last week BMW showed its " BMW X6 Hybrid to be world's most powerful gas-electric vehicle"

"High crude prices = further development of other energy sources"

OPEC CRASH..

OPEC is trying to contain speculation that has once more started to inflate crude prices; the cartel has increased production at the fastest pace in two years to avoid prices from rising above the $75 per barrel, a price that Saudi Arabia has confirmed as adequate both for producers and consumers.

However further action by OPEC is needed to avoid a possible "Opec crash" for prices to remain at around $75 per barrel.

The number of contracts to buy crude at $100 per barrel in the first quarter of 2010 has quadruplicated in October. The cartel has stated that the crude prices at $100 per barrel are not realistic and can only harm the economy of the crude dependent states as most economies are indexed to the energy prices. The crude reserves of most industrialized countries are at record levels, the highest since 1998, the crude prices then were $10 per barrel

In a very near future this market will implode because the prices practiced are inflated and cannot be sustainable, as is already the case with some economies that allow speculation to control consumer prices as is the case with Portugal.

The scheme

As WorldWatch forecast on previous posts the crude price is speculative, both by petrol companies and less honest governments as is the case with Portugal were once more final consumer prices at the pump have become more expensive.
The companies involved in this scam are,Galp, Cepsa, BP e Repsol, last week alone these same companies increased final consumer price three days in a row, now this week they have once more increased consumer final prices at the pump by...

Galp increased regular 95 Octane by 1, 5 cents per litre; consumer price is now a staggering 1,319 euros per litre.
Cepsa increased regular 95 Octane by 1 cent per litre; consumer price is now a staggering 1,318 euros per litre.
BP increased regular 95 Octane by 1 cent per litre; consumer price is now a staggering 1,319 euros per litre.
Repsol increased regular 95 Octane by 1 cent per litre; consumer price is now a staggering 1,319 euros per litre.

These companies all practice the same final price with no explanation given to the public as to why...
As mentioned in previous WorldWatch reports the recession will continue as long as these companies and governments continue to use lame excuses to inflate final consumer prices. Regular 95 Octane should have a consumer price of 1,113 euros per litre. At $80 a barrel, Portugal continues to have one of the most expensive petrol prices in the world...

Possible OPEC crash !!!

The Organization of Petroleum Exporting Countries (OPEC) is a cartel of twelve countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela.
According to WorldWatch most of these net exporters of oil will face serious economical dificulties, starting in the first quarter of 2010, social support will in most cases be reduced and in some stopped, as is the case with Venezuela now agravated with the electrical shortage.
Most of these exporters of oil have the economy indexed directly on the revenue obtained from crude, and since the cartel cannot maintain the barrel of crude at a affordable price which is around the $72.00 a barrel.
Crude oil is poised for its biggest monthly gain in five months after a report yesterday showed the U.S. economy grew in the third quarter, ending a year-long contraction and spurring optimism fuel demand will increase .... This however is pure speculation as most Americans face serious money shortage.
Oil rose 3.1 percent yesterday, the most in two weeks, after the US Commerce Department said the world’s largest energy- consuming country expanded at a 3.5 percent annual pace between July to September.These figures are not real, it’s helped by stimulus from the US government.
Crude oil for December delivery traded at $79.93 a barrel, The dollar fell toward its fourth monthly drop against the euro. It traded at $1.4852 at 2:08 p.m. in Tokyo, from $1.4822 yesterday in New York. A declining U.S. currency spurs demand for commodities, including gold, as an alternative investment.
The dollar fell toward its fourth monthly drop against the euro. It traded at $1.4852 in Tokyo, from $1.4822 yesterday in New York. A declining U.S. currency spurs demand for commodities, including gold, as an alternative investment.
The U.S. economy shrank 3.8 percent in the 12 months to June, the worst performance in seven decades, the recovery will last well into the second quarter of 2010.
The number of Americans collecting unemployment insurance will continue to rise, seven million Americans became jobless during this recession, to create employment for all will be a loosing battle, so claims for jobless benefits will continue according to the Labor Department.
If crude prices continue to rise the economical recovery of most industrialized nations will enter 2010 in the red. The OPEC crash may become a reality.

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OPEC MAY CRASH..

Oil prices slipped above $78 a barrel Friday (16-10-2009) as investors speculate with the prospect that global growth is in a upward movement. Oil prices have fallen about 67% in four months, plunging from a record $147.27 in mid-July 2008.
Demand for gasoline crude products during the past week had a slight increase, due to a decrease in US stocks and the dollar at new record low levels.
According to WorldWatch this does not mean there is a increase in crude demand, most world economies have not started to recover, and those that have are facing new challangers.
If OPEC does not try to control crude prices from speculation and less honest traders and governments and consumer prices rise, then OPEC may face a decrease in demand as much as 12% first quarter 2010.
These figures are based on actual demand using a crude price referrence of $66 a barril. Any price above $66 a barril will undermine world recovery and place in check most OPEC based economies.
Alternative energy methods will be strengthen causing a further decline in crude, so if OPEC wants to survive it must control this energy price
as it leaves the oil fields around the world.
Source:WorldWatch

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