OPEC & Circle of Inflation
Posted by Oilism.com on September 7th, 2010 at 06:38pm
A look at what is now going on in the Middle East where OPEC’s nations’ oil consumption is on the rise, with Jeff Rubin, CIBC World Markets chief economist. Rubin talks about how increasing domestic oil consumption in the Middle East will result in decreasing exports. Originally posted on Youtube by leanan777
Video Rating: 4 / 5
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3 Comments for OPEC & Circle of Inflation
1. justintempler | September 7th, 2010 at 6:53 pm
Nice history lesson. All the cheap oil is gone it’s going to rough coming out of recession when at the same time rising demand will increase oil prices and knock us back.
2. profbaldwin77 | September 7th, 2010 at 7:09 pm
Sounds like Obama bashing to me – he is probably a pseudo-racist ?
3. updownleftrightinout | September 7th, 2010 at 8:06 pm
I like Jeff Rubin.
But UAE, Jordan, Yemen, Omen and Saudi Arabia only have about 60 million people. UAE only has 5 million people. The USA has 330.000.000 people and China has 1.4 Billion people. The scale is way different and a small prove in efficency in larger countries can offset the difference.
But he is right that it is their oil and natural gas and they can do what they want with it. It’s been known for some time the CHEAP oil ride will end soon.
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