OPEC days numbered? World Bank report predicts organization will lose oil influence
Economy | Information | History | Online | Facts | World | Global | Money
The days of the Organization of the Petroleum Exporting Countries (OPEC) could be numbered, according to a new report from the World Bank. It claims the cartel of oil producers is losing its influence on global prices due to changing market conditions and technological advances. RT asks economist Max Fraad Wolff about the predictions. RT LIVE http://rt.com/on-air Subscribe to RT! http://www.youtube.com/subscription_center?add_user=RussiaToday Like us on Facebook http://www.facebook.com/RTnews Follow us on Twitter http://twitter.com/RT_com Follow us on Instagram http://instagram.com/rt Follow us on Google+ http://plus.google.com/+RT Listen to us on Soundcloud: https://soundcloud.com/rttv RT (Russia Today) is a global news network broadcasting from Moscow and Washington studios. RT is the first news channel to break the 1 billion YouTube views benchmark.
Comments
-
I don't fear the NWO- I welcome it!
I only fear the assholes that construct it. If the World Bank and the criminal elite OPEC becomes its architects-
Be afraid- BE VERY AFRAID!!! -
Time to break the islamonazi oil hold on the world's neck. No more being intimidated by this criminal mohammedian organization that bribes and threatens people who don't agree with its islamoimperialist agenda.
-
next WB, IDB, OAS, IMF, nest full of rats!!
-
Sounds good to me. How about the death of the Petro dollar.
-
at least russia gives us good american news
-
THE ROTHSCHILDS ARE DONE WITH OPEC, THEY DON'T NEED THEM ANYMORE. THEY WILL NEED TO CRUSH ALL ARAB RESISTANCE TO GO FORWARD WITH THE GREATER ISRAEL PROJECT. THAT'S RIGHT! ISRAEL IS PLANNING ON EXPANDING ITS BORDERS OVER THE NEXT CENTURY ALL OVER THE MIDDLE EAST! AND HOW FUNNY, THE ROTHSCHILDS ALSO TOLD THEIR FRIENDS, THE ROCKEFELLERS, TO TAKE THEIR MONEY OUT OF OIL AND INVEST IN RENEWABLE ENERGIES. WHAT A SUPRISE!
-
OPEC doesn't serve the Americain interest anymore, so let's eradicate OPEC and create a new one responding to orders. The fact is that Oil will not be anymore in dollars instantly when the american shale oil and gaz companies will bankrupt. About half of them are in critical financial conditions now. And within the begening of june, they would have totally collapsed. And we are talking about 16.000 billions of dollars of shaleprimes derivatives (like subprimes)...
-
It won't just be OPEC that loses influence but also Russia. Oil/gas is all the Russians have. That's it.
-
About time???!!!
-
"A new report by the world bank" .... i think we'll leave it there...
-
The rich elites wont give up ther high price limited Resurces, for very low umlimited ones that is for sure!
And that we see Today! -
OPEc is the money guys.. where is my milion?!??!?
-
opec stands as long as the US can guarentee security for saudi arabia. If they cannot then confidence will be lost and they will no longer trade oil in dollars. Looks like obama's parting gift will be to destroy the petrodollar by warming up to iran and having ISIS cross over into saudi arabia.
-
So this means we can leave the ME now? NoOoT
-
Putin's days are numbered
-
Where’s Money
P/E ratio of the U.S. equity market are flashing red, the Federal Reserve has been pumping up the markets with heavy cash flows,
So, Quantitative easing has herded dollars into the stocks, and stocks are 500 to 600 times earnings.
Here’s the rub, dumping that much cash into the Stock Market all at once, without a corresponding increase in demand, creates inflation in nondiscretionary spending, and deflation discretionary spending.
In other words, consumer spending is down on all discretionary item, while supply is up.
This is the reason you see retail stores closing all over this nation.
According to the Bureau of Labor Statistics, 20 percent of American families do not have a single person that is working.
Bureau of Labor Statistics publishes the ‘employment-population ratio’ a statistic that tells us that the percentage of working age Americans, that actually have a job has been below 59 percent for more than four years in a row…
So, the Bureau of Labor Statistics is telling us; 41 percent of all working age Americans do not have a job.
Look for Gas and Oil to continue there downward trajectory, due to over supply in production, and corresponding weak employment numbers.
It’s a simple equation, people, who don’t work, don’t need to drive as much.
Less fuel consumption, due to higher unemployment = deflationary pressures in discretionary spending. -
The establishment is becoming desperate; Oil and Gold have been interminably linked since 1971 the same year the U.S. went off the gold standard, and created the Petro-Dollar.
Recently there has been a concerted effort in the MSM to convince the American People that Saudis are OUR friends and it is safe to trade missiles for Oil.
This is a clear indication that the Western Central Bankers are running out of gold.
This is how the current Oil for Gold trade works…
All OPEC Nations must trade their Oil using the US Dollar, including Venezuela, who is one twelve members: Algeria, Angola, Ecuador, the Islamic Republic of Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, and the United Arab Emirates.
As all OPEC members have agreed to trade their Oil using the US dollar; so has the Western Central Bankers agreed to make concession for OPEC’s cooperation.
The Western Central Bankers have set up clearing houses which enables OPEC Nations to exchange their dollars for gold.
The Western Central Bankers would like to change this situation, because they are quickly depleting their gold reserves.
"When a government overvalues one type of money and undervalues another, the undervalued money will leave the country or disappear from circulation into hoards, while the overvalued money will flood into circulation." ---- Gresham's law
In other words: "Bad money drives out good".
This is the reason China, Russia, India, and other Nation have been increasing their gold reserves.
Gold and Silver is the only real Money, everything else is just currencies.
Something free of government interference, something with intrinsic value, Gold and Silver still serve this purpose.
I don't like the track record of fiat currencies, why should I???
Every fiat currency of the past has failed bar none. -
At the bump in Finland. Fuel is more expensive than ever before. "low oil prices" in my ass.
-
rus days are numbered.
4m 3sLenght
153Rating