FAILED OPEC – IRRELEVANT AND OBSOLETE
Opec produces at a record high about 33 billion barrels per day.
OPEC is well passed by producers who are not members of Opec including all American Production at almost 57 billion barrels a day and rising dramatically even with low prices – double OPEC PRODUCTION.
If OPEC cuts back its lower producing members like LYBIA and Venezuela will crank up their production and sell outside OPEC curbs as will IRAN and RUSSIA to get Market Share away from GULF PROVIDERS. Market share lost is never coming back and OPEC Gulf member’s know it.
Once upon a time OPEC controlled 60% of the market.
Today its more like a third of the market.
The idea of OPEC domination of price and supply has come and it has gone. Today the weight of supply is OUTSIDE OPEC and that % will only gain ground in the future. SO OPEC is no longer relevant to pricing energy in oil and gas.
Putting weight on OPEC is foolish. Many GULF NATIONS planned on premium priced oil.
Now in deflation oil like all commodities has crashed to market rate pricing. The premium price monopoly penalty on oil is broken now and forever. As more and more oil comes on line OPEC is less and less influential. Always respected. Always important. But really folks – two thirds of the world oil market is now outside OPEC and rising.
OPEC is fighting in its own membership for market share.
There is no unity nor will there be in DEFLATION price markets with every nation for itself. OPEC is fractured and there is no all the kings horses and all the kings men can not ever put Humpty Dumpty oil back together again. ( as in NEVER can’t be done ).
It’s over for OPEC everyone…watch and see which is why the IMF is screaming INFLATION is gone and DEFLATION Is sweeping a spiral into SUPER CRASH and the threat to the entire world as a GREAT GLOBAL DEPRESSION LOOMS on the back of central bank – failed policy for ten years – FREE MONEY has killed the golden goose folks – taking the utterly failed policy making of CENTRAL banks and merging them back into their national treasuries is the only LEADERSHIP INSPIRED LAW MAKING MOVE available to nations….to delay is to pay with a cost if we accelerate that is great and to delay is to pray….as we loose it all.
THE IMF and WORLD bank today in global screaming warning to law makers confirming this blog – finally they who read this blog are quoting from this blog.
Hopefully its not to late – we’ll see.
Berny Dohrmann – SUPER CRASH IS COMING FOLKS – we told you what to do.