Oil leaders' private debate televised by mistake = $100 oil?

EarthGamePlayer

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kublikhan · Intermediate Crude Joined: Nov 06, 2007 Posts: 623

Lol, nice find. Wish I bough more gold and silver last week.
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auscanman

What an absolute gem of a find!

And to think that back when the Iranian oil bourse was being proposed, that would be priced in Euros, the mainstream media went out of its way to poo-poo the petrodollar phenomenon, trying to make it out to be a lunatic fringe theory.

Should be an interesting day for the dollar, gold, and oil tomorrow!

Twilight · Expert Joined: Mar 02, 2007 Posts: 2971 Location: UK

Already been posted here. Story been doing the rounds since Friday. It's impossible to say how important this is going to be. It might as easily be dismissed as offering no new information. The fact of the cock-up is more interesting than what it revealed. On the other hand, this could become a slow-burning issue which creates more alarm among observers the more they think about it, as it does serve to confirm some long-held suspicions.
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"The American people are watching the numbers climb higher and higher at the pump and they're waiting to see what the Congress will do." - George W Bush

KevO · Expert Joined: May 24, 2005 Posts: 2333

a mistake?

do we really think so?

Bye Bye $
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roccman

http://biz.yahoo.com/ap/071118/opec.html

DantesPeak

There have been at least two other threads on this subject already.

I don't think OPEC as a group will formally move to price in something other than dollars just yet. However if the dollar does collapse, a potential problem which was specifically mentioned to be on the mind of the Saudis, OPEC will move completely off the dollar standard.

Meanwhile, individual countries are free to price oil as they please anyway.
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It's already over, now it's just a matter of adjusting.