News Oil Price - OPEC Meeting

[Hawkwind]

BBC NEWS | Business | Call for record Opec output cut

So expect oil prices to start rising over next 3 months.

What I don't understand about the EU is that they fine Airlines and drugs companies millions of dollars for price fixing yet allow OPEC to do as they please.

Thoughts?

 

[Thorwyn]

Well... it has something to do with the fact that airlines and drug companies are part of the EU and are subject to EU legislation, while any attempt to control the price fixes of OPEC states would result in the arabs giving us the finger.

 

[Hawkwind]

Well... it has something to do with the fact that airlines and drug companies are part of the EU and are subject to EU legislation, while any attempt to control the price fixes of OPEC states would result in the arabs giving us the finger.

Some of the drug companies were Swiss and American. Regardless I thought that by entering the EU market they had to comply with EU law.

 

[Thorwyn]

I doubt that prices of products from non-EU countries are something that the EU can enforce. Those countries *can* accept the EU regulations but they don´t have to. American and swiss companies probably comply to EU laws, because they *want* a spot on the EU market.

 

[Bugz]

If EU said you can't come into the EU market without obeying our laws, OPEC will go fu and sell more to America/other countries.

Monopolistic power of a global essential > all else in economics.

 

[Ormorof]

the difference between pharmaceuticals and oil is well, if the swiss/american companies didnt comply their european counterparts would gobble up all their EU contracts whereas OPEC supply a great deal of the worlds oil and if they choose not to comply and the EU cuts them off where the hell are we going to get our oil from? the russians?

 

[Jeros]

Well its not like the oil is going to last much longer anyway, quite scary, ironicly if i end up doing geology i might end up working for a mining company.

 

[Hawkwind]

There is still a lot of oil out there, you may want to think about a nitrox deep sea diving coarse along with the geology Places like the Falkland's has vast reserves discovered in the 70's. We weren't fighting for Penguin's and a few inbreds.