F... gas prices

[firstdown]

Originally Posted by onlydarksets

Looks like 2 extra zeros:
http://www.nytimes.com/2008/12/18/bu...ss/18opec.html
According to the NYT, since September OPEC has made cuts totaling 4.2 million barrels a day (including a 2.2 million barrel/day pledge yesterday), which represents a 12% reduction since September.

I thought Bush controlled the price of gas and not OPEC?

[onlydarksets]

Originally Posted by firstdown

I thought Bush controlled the price of gas and not OPEC?

Of course he does - have the OPEC cuts have any effect? Nope.

[firstdown]

Originally Posted by onlydarksets

Of course he does - have the OPEC cuts have any effect? Nope.

They will its just takes time for the actual cut backs to start hitting the market. If these don't work they will make even more cuts in production until they do have the intended effect.