LOL It's not my fault

by **rick152** Tue Jul 03, 2012 1:26 pm

People are so very ....I guess funny will work here. "it's not my fault but yours" That way if I do something wrong I do not actually have to see in the mirror my own faults.

In this article an official from Iraq blames Saudi Arabia of flooding the market with oil thus causing lower prices (as we have seen oil drop from over 100 per barrel) When I say that is definately not the case! Oil consumption has fallen for but 2 reasons. (one NOT being overstock) But being from too high of pump prices and the world economic dilemma. I also believe that this "economic delemma" need not even be except for the part governments round the world want the people to be undercontrol. That was both anticipated and "designed" here in America with the Fair housing Act, where "everyone deserves to OWN their own home". (whole nother subject)

Anyway here is the blame game going on so look out for oil to rise again and very soon.

Bahr: falling oil prices caused by oversupply of Saudi Arabia

Returned former oil Minister Ibrahim Bahr Al-Ulum, low oil prices in Iraq as a result of increasing supply in the international market, particularly Saudi Arabia and the resolutions of the Organization (OPEC) by manipulating prices.
Ulum said: that Iraqi oil prices recently due to increasing the supply of oil in the international market, particularly Saudi Arabia and harsh decisions of the (OPEC) they impose on States a price increase or reduction being the Organization International President.
He added: the developments in the region in General and increase reserves and reserves in the USA and the slow growth of all major economies have led to reduce speculation on oil and low oil prices.
Ulum said that the decline will continue for a long time and will stabilize in the coming period will be approximately $ 90 and the price is the price paid, for the Organization to review OPEC production ceiling and quotas to control the international oil market.
And there is an increase in oil production in southern fields (Rumaila and Zubair Qurnah) which play an active role in narrowing the gap between demand and supply and contribute to make the Iraqi oil is not affected by low or increase prices, adding: after 10 years be Iraqi oil production and is the player on the world market and becomes the first and last control in the international market.
The last month of may saw a significant increase in oil production reached about two million and four hundred and are promising oil production rise day after day to become a giant in Iraq's oil exports and revenues.
At the time of the Brent price fell just shy of $ 96 a barrel on Monday, affected by weak data for factories in China, the largest consumer of energy in the world and with continuing doubts about the European deal was contributed to the price for the fourth largest daily gain ever in the previous meeting. and price is expected to derive some support EU ban for importing Iranian oil, which came into force on Sunday, but analysts said the gloomy picture of global macroeconomic is likely to limit any gains Potential. Brent fell $ 1.46 to $ 96.33 a barrel by 0542 GMT while us light sweet crude was 1.15 dollars to $ 83.81 per barrel. the last meeting on Friday Brent rose more than six dollars a barrel, while US crude jumped more than seven dollars in fourth largest daily gains of price in dollars since the launch of contracts. due largely to gains optimism in financial markets after the EU leaders played down the risk of disintegration of the euro area to reach agreement to strengthen the banking system in the region And reduce the cost of borrowing for Italy and Spain.
This optimism has been affected after declining manufacturing activity in China the second largest economy in the world in June with export orders that are indicative of the State of the economy in North America and Europe, the biggest decline since December.

http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.iraqdirectory.com%2FDisplayNewsAr.aspx%3Fid%3D20050