Petrol / gasoline is $7.76 a gallon in England today. Will OPEC increase oil production on March 5th?

Question

The conversion is from £1.04 / litre to the U.S. dollar and the U.S. gallon. When OPEC meet on March 5th, do you think they will increase their oil output level to relieve the pressure on the $100 barrel?

Answer 1

The problem is they are trying to increase output, have for years, but the cost goes up and less comes out. We have seen peak of oil, natural gas and the cheep coal is gone. We must start using fossil fuels to build renewable energy resources. Oil is going to hit $300 per barrel, then gas will take off to $30 per gallon.

Answer 2

Solar Power cars an alternitive as an article about such a car made in India has indicate. The thing to do is to tap The Sun for Solar Power through Solar Power Socialism make sure every citizen has Solar Power. Free Solar Power by which is meant your taxes pay for it. Why pay direct at the pump when you can pay just once for everything. Opec is not going to exist it is going to either become SOPEC or EPEC. This would mean these organizations would preside over privatized industry instead of it being owned by The Public.

Answer 3

According to a CNN report yesterday, OPEC has said it will NOT increase output levels.

Answer 4

*generic substantiated claim like above*

Gas prices in the U.S. will skyrocket when the future president ends tax breaks for American oil companies.  Why do you think the U.S. pays $3 while its $7.76 in England?  Surely they don't have 100% carbon tax or something, right?

American oil companies pay 35 billion dollars in taxes per year, just to let you know.  We end the tax breaks, they will pass the cost on to the customer, all 300 million of us.

Answer 5

Oh terrible, I remember when I would hear about people in the UK paying $1 per gallon and I couldn't believe that then...oh course we here in America were paying .49 cents a gallon then. We need alternative fuels now. My neighbors car runs on old cooking oil from resturants...but it's quite a hassle to get it all the time.

Answer 6

With which margin of production? We are pretty close to the maximum extraction capacity, especially if compared to the 90´s.

QUESTION: What will happen when 1 billion of Indian will have access to a car which costs on $3000 ?

ANSWER: The prophecy of $200-$250 per gallon by 2020 might turn true.

WHAT THEN? well then you would have to pay $15 per gallon in the UK.

Good luck