Economic question regarding about opec?

Question

Why might OPEC have trouble keeping the world’s market price of oil above that necessary to keep oil suppliers in business? What strategies might it use to try to do this?

Answer 1

Anyone believing OPEC's complaints of oil shortage might as well believe in Santa Claus and the Easter Bunny.  

OPEC simply doesn't respect America or the UK (and Europe, for that matter).  They're having fun, playing this dangerous game of squeezing it's oil supplier countries--which inculdes USA to breaking limits.

And why should they respect the US and it's allies???  OPEC has bought US politicians---inculding Bush, Cheney and their Cabinet members.  Remember Bush's post-9/11 tough talk about any country sympatheic to Al-Qaida is an enemy to the US?  Well, it's evident there are some OPEC board members who are sympatheic to Al-Qaida--and now, they bully Bush to take a stand......something they know will NEVER happen.....because Oil is the crack---and we're the crack heads!!

Obama or McCain: Neither will prevail as a President akin to Ronald Regan--a President we need right now, if ever a time was right.

Again:  THERE'S NO OIL SHORTAGE.  There's just an abundance of resentments and disrespect from OPEC--and it's costing us, big time.

Answer 2

First off, oil supply isn't in shortage!!  The suppliers as you call them are only producing a given amount of oil to create there own price hike.  

If you want their oil, it will cost you this much!!  that is their stance.  We as people are so dependent on it that we will pay whatever they ask.  Anyone who is a oil supplier will never have to worry about going out of business, (if they have oil we will buy it) it's only a case of how many billions of dollars are they going to PROFIT this year!!

I heard a good analogy -  

We are all Crack Heads, and the World Oil Market is our dealer - the more we need, the more the price goes up!