what does opec stand for/?
539874
OPEC is a cartel.  That is, it is a group of oil producing nations that conspire to fix oil prices according to what they think it is worth.\n\nEver wonder why illegal drugs are so expensive, because they are run by cartels as well.  Now you know why oil is expensive.
330706
Optimum is relative.  Current production is probably sort of close to optimal for the OPEC countries in terms of profits.  It's not optimal in terms of social welfare or price.\n\nIt can probably go up to a few hundred dollars a barrel before people finally get the idea that it might be a good idea to start looking at alternative sources of energy.  The problem is that there are millions of cars out there that run on gas, and it's impossible to get them to switch to, say, hydrogen power overnight.  So, the demand is going to increase over time.
640569
Same reason.\n\nThe US wants control (influence) of the entire oil-producing region, so that they can ensure a regular supply.\n\nIt's not about individual countries.
581781
There is NOT a supply shortage. Even OPEC and Saudi Arabia are saying there's no shortage. They are saying the gas prices should not be anywhere near as high as they are. What's raising the cost is that oil companies are gouging everyone because they basically have a collective monopoly, even though they're supposed to be in competition with each other. That's why oil companies keep scoring record profits each year while average Americans are getting poorer.
1172267
Right at this time, the Middle Eastern Nations provide and control the majority of today's oil. Unfortunately, the next 20 years will probably be provided by the same source (for the western world that is unless alternative means are initiated). Other parts of the world do have ample resources to assist in providing oil for the rest of the world. Countries such as Venezuela, Mexico, Russia and even Canada and be self sustaining in this area and the United States is currently purchasing oil from these areas. Canada has a vast reserve underground in what is called "Oil Sands" where the oil is actually trapped in sand which makes it a grainy like tar. It is very costly (at this time) to extract the oil from the sand.
567343
Producers\n1 Total oil production   Exporters\n\n 1. Saudi Arabia 10.37  \n 2. Russia 9.27  \n 3. United States 8.69   \n 4. Iran 4.09  \n 5. Mexico 3.83  \n 6. China 3.62  \n 7. Norway 3.18  \n 8. Canada 3.14  \n 9. Venezuela 2.86  \n10. United Arab Emirates 2.76 \nfind more detailed information here.\nhttp://www.infoplease.com/ipa/A0922041.html
899440
This is an acrostic. My great-grandfather made one for his daughter, my grandmother, before he was killed in the Civil War.\n\n\nP.S. It is not an acronym, which is a word formed from the first letters in a series of words - such as OPEC for Organization of Petroleum Exporting Companies.
378052
Supply/demand mostly.  Futures speculation on the future of it at least.  Uncertainly over future supply.\n\nSupply meaning OPEC and those countries that supply a large portion of the world's oil.  Demand meaning the growth of the industrial base of India/China.  The large demand of American consumers with their vehicles.
642020
OPEC is important because its member states account for enough crude oil production that they can influence prices.  They certainly do not control prices to the extent that they did back in the 1970s, but they are nonetheless very powerful.  I've provided a link for you
238518
opec doesn't have any oil to sell.  they're an organization of countries that agree to limit their production to push up the price.  countries that produce their own oil will sell for the market price.  countries that invite outside companies to produce their oil, will have contracts to determine the price or royalty charged for a barrel of oil.
713998
ah DA petroleum MEANS oil . natral gas is methan and it come from decaing plant and animal matter. its usally found around coal and oil often found at same time coal an oil are from the same thing is why
436573
Good for you, as you are on the right track.  If everyone decided to take two days off from work, say a thursday and friday and for those two days and the weekend no one drives or uses gas what the impact would be.  OPEC TO THE KNEES begging us to take their crude on the buy one get one free plan.  I have often said the same thing you did but I think billboards and a planned event of 'JUST STOP'.  This would be an event, if it could be pulled off, that would change the manner the oil people do business.  After all, look at what they do to their customers, me and you.  Do you think they would care after 4 continual days of no sales at the pumps??  There has to be more like us and when the number grows to be significant that are willing to perform such a simple task to such a major impacting event we will again be in control.  Where did we lose it, by hanging our heads and bitching every time we fuel.  The station attendant has nothing to do with it so I tell people, if you are going to do nothing about it don't bitch cause I do not want to hear it.  Bless you as I thought I was the only one with that philosophy.  There is hope.
652905
The last I looked an organization called OPEC decides what they sell oil for; so how you can you say we loot the middle east?  We pay for the products we purchase, and not once have we used our military to secure assets.  Looting is a poor choice of words.  If you live in another nation we buy products from - get your government or companies to charge more for it - but recognize our companies will just buy it cheaper somewhere else.
500382
Your mistake is basic: you're presuming that the oil in the ground belongs to America.  It doesn't.  It belongs to ExxonMobil, BP, etc.  Think they'd want to lower profits to benefit us?  HAHAHAHAHAHAHA
467467
Oil - Rank Country Proved reserves \n(billion barrels) \n1.  Saudi Arabia 261.9 \n2. Canada 178.81 \n3. Iran 125.8 \n4. Iraq 115.0 \n5. Kuwait 101.5 \n6. United Arab Emirates 97.8 \n7. Venezuela 77.2 \n8. Russia 60.0 \n9. Libya 39.0 \n10. Nigeria 35.3 \n\n\nGas - Rank Country Proved reserves \n(trillion cu ft) \n1. Russia 1,680.0 \n2. Iran 940.0 \n3. Qatar 910.0 \n4. Saudi Arabia 235.0 \n5. United Arab Emirates 212.1 \n6. United States 189.0 \n7. Nigeria 176.0 \n8. Algeria 160.5 \n9. Venezuela 151.0 \n10. Iraq 110.0
349069
http://exxonmobil.com/Corporate/About/OurActivities/NEW_Corp_OA_Upstream.asp\n\n40 countries it says.
1096583
OPC stands for OLE Process Control .. which of course is short for Object Linking & Embedding Process Control