Call for curb on speculators to stop oil hitting $150 a barrel

  • The Guardian
  • Friday November 16 2007
  • Oil could reach $150 a barrel and needs a new system of pricing that would take the power out of the hands of financial speculators, Opec delegates at a special summit in Saudi Arabia were told yesterday.

    While no one wanted to feed further fear into the market, industry players were speaking behind the scenes about prices going up to $125 or even $150, said Usameh Jamali, a Kuwait-based consultant.

    “People in the market believe $100 is sustainable and there is continued upward pressure … we should be expecting some downward pressure [only] in a couple of years,” he said, after taking soundings at the World Energy Congress in Rome this week. Whereas in the past, he said, $20 on the price could be attributed to political uncertainties, now it was at least $30.

    “If [President] Bush changes the rhetoric and says the old [consuming countries] and the new [producers] should work jointly together to find a solution, then prices would fall $30”.

    Another speaker at the “ministerial symposium” in Riyadh, Robert Mabro, director of the Oxford Institute for Energy Studies thinktank, said it was now impossible to predict where the cost of crude could go. “I don’t know if $100 is sustainable. Before we leave the room it may go up $20 or it may go down $20 but what does that tell me about the fundamentals [of oil supply and demand]?”

    Mabro, a long-time adviser to Opec, said he wanted the oil cartel to spend six months researching ways to find a different pricing structure. He said it was not the high price that was damaging producers and consumers alike but the volatility.

    With what he called “crazy” prices causing such uncertainty and the short-term demands of investors in major oil firms, it was very difficult to make a case for the large new investment in expanding oil-refining capacity that was badly needed.

    Oil prices fell sharply yesterday after an unexpected rise in crude inventories in the United States, the world’s top consumer.

    US light crude for December delivery was down $2 at $92.09 a barrel in afternoon trading after rising almost $3 the day before. London Brent crude was $1.33 lower at $90.03. US government figures showed a rise of 2.8m barrels in crude oil stocks last week, when analysts had forecast a fall of 800,000 barrels.rabia were told yesterday. While no one wanted to feed further fear into the market, industry players were speaking behind the scenes about prices going up to $125 or even $150, said Usameh Jamali, a Kuwait-based consultant. “People in the market believe $100 is sustainable and there is continued upward pressure … we should be expecting some downward pressure [only] in a couple of years,” he said, after taking soundings at the World Energy Congress in Rome this week. Whereas in the past, he said, $20 on the price could be attributed to political uncertainties, now it was at least $30. “If [President] Bush changes the rhetoric and says the old [consuming countries] and the new [producers] should work jointly together to find a solution, then prices would fall $30”. Another speaker at the “ministerial symposium” in Riyadh, Robert Mabro, director of the Oxford Institute for Energy Studies thinktank, said it was now impossible to predict where the cost of crude could go. “I don’t know if $100 is sustainable. Before we leave the room it may go up $20 or it may go down $20 but what does that tell me about the fundamentals [of oil supply and demand]?” Mabro, a long-time adviser to Opec, said he wanted the oil cartel to spend six months researching ways to find a different pricing structure. He said it was not the high price that was damaging producers and consumers alike but the volatility. With what he called “crazy” prices causing such uncertainty and the short-term demands of investors in major oil firms, it was very difficult to make a case for the large new investment in expanding oil-refining capacity that was badly needed. Oil prices fell sharply yesterday after an unexpected rise in crude inventories in the United States, the world’s top consumer. US light crude for December delivery was down $2 at $92.09 a barrel in afternoon trading after rising almost $3 the day before. London Brent crude was $1.33 lower at $90.03. US government figures showed a rise of 2.8m barrels in crude oil stocks last week, when analysts had forecast a fall of 800,000 barrels.

    KJ vs Bersih: The Remix Nov Rain (Kita Jumpa Kita Lawan)

    Kalau KJ berdemonstrasi, takde hal, orang lain beruk…….

    Siapa bermenantukan BERUK

    Heboh panggilan beruk terhadap mereka yang akan berhimpun di jalan raya pada 10hb Nov 2007. Apabila dipersoalkan mengenai tindakan beliau sewaktu membantah kehadiran Condoleezza Rice’s di Malaysia, beliau menjawab mereka ada permit. Dengan itu membezakan antara beruk atau tidak beruk adalah permit polis dan bukan perkara – perkara lain. Namun sesuatu yang pasti ialah apabila sesuatu demonstrasi mahu dilakukan maka beberapa perkara seperti halangan jalan raya, tempat awam dan sebagainya perlu dikaji sebelum meluluskan permit. Oleh itu permit polis mungkin di peroleh oleh Khairy Jamaluddin selaku Pemuda UMNO untuk berhimpun dan berarak di KLCC menuju ke kedutaan Amerika dan polis dapati perhimpunan itu tidak akan menghalang jalan raya atau mengganggu lalu lintas. Sebenarnya mungkin kenyataan Khairy bahawa dia ada “protection” seperti yang tertera pada kenyataan beliau dalam Akhbar The Star 03 November 2007 adalah alasan yang lebih konkrit untuk polis mengeluarkan permit.

    Apa pun alasan sebenarnya adalah sekiranya mahu membuat sebarang demonstrasi dan membolehkan untuk permit dikeluarkan adalah seperti berikut:

    1. Demonstrasi itu MESTILAH tidak membantah sebarang dasar atau tindakan yang dibuat oleh kerajaan Malaysia.

    2. Demonstrasi itu MESTILAH membantah perkara-perkara lain atau dasar negara lain.

    3. Permit akan dikeluarkan biarpun melintasi jalan sesak dan mengganggu jalan raya sekiranya ia dipohon oleh Pemuda UMNO dan khususnya Khairy Jamaluddin.

    4. Permit tidak akan dikeluarkan sekiranya ia dianjurkan oleh pembangkang atau NGO yang menyokong pembangkang.

    5. Beruk tidak boleh memohon permit kecuali menyokong kerajaan dan sekiranya beruk menyokong kerajaan maka statusnya bukan lagi beruk tetapi jadi Pemuda UMNO.

    Mungkin inilah yang dikatakan demokrasi. Mungkin inilah membuat kita tertanya-tanya siapa itu beruk dan siapa bukan. Mungkin yang dapat pisang itu beruk atau mungkin yang takut itu beruk? Entah satu persoalan yang agak sukar di Malaysia, menentukan siapa berok dan siapa yang mungkin bermenantukan beruk. Payah benar negara kita ini.

    Petikan dari

    antikhairy.blogspot.com

    Demonstrasi bukan budaya kita, cuma budaya KJ

    Saya tertarik apabila melihat videoclip yang menayangkan demonstrasi – demonstrasi di serata dunia, termasuk demonstrasi oleh rakyat Myanmar di Kuala KLumpur tempohari.

    “Demonstrasi bukan budaya kita, demonstrasi selalu berakhir dengan kekacauan”

    Beberapa hari lalu, KJ meminta polis untuk menahan penganjur perhimpunan BERSIH yang bakal diadakan pada 10 Nov ini dan menyatakan perhimpunan itu hanya adalah gimik politik pembangkang.

    Mari kita lihat, adakah perhimpunan untuk menghantar memorandum kepada Condeleezza rice itu bukan gimik politk dab sama seperti perhimpunan bersama rakyat Myanmar?

    Sila rujuk kembali apa tuntutan yang dibuat oleh KJ semasa berhimpun bersama rakyat Myanmar di Kuala Lumpur.

    “He said Malaysians were concerned over the use of live bullets to kill demonstrators and urged the Myanmar authorities to stop using excessive force against civilians. 

    He also urged the regime to stop arbitrary arrest of prisoners of conscience, including National League for Democracy leader Aung San Suu Kyi. 

    Khairy called on Myanmar to restore human rights and allow free and fair elections to be held and ensure an equitable economic development system that would not burden the masses.” 

    Petikan dari http://thestar.com.my/news/story.asp?file=/2007/10/1/nation/20071001150420&sec=nation

    Apakah pula tuntutan BERSIH? Fikir – fikirkan….

    KJ yang lari lintang pukang apabila dikejar

    Naib Ketua Pemuda UMNO Malaysia yang menyatakan mendapat protection daripada bapa mentuanya dlm menjalankan perubahan – perubahan yang difikirkan sesuai oleh KJ, tidak dapat sebarang protection apabila beliau dikejar oleh seseorang yang marah atas tindakan beliau pada pilihanraya Ijok lalu. Jikalau KJ memilih lari lintang pukang pada masa itu, dimanakah protection bapa mentuanya?

    Jikalau KJ memilih untuk lari daripada diasak dan ditibai oleh hamba allah itu, apakah KJ juga akan berdiam diri apabila ratusan ribu orang mengadakan demonstrasi yang secara terangan melemahkan pentadbiran Pak Lah yang tersangat lemah?

    Fikir – fikrkan. Sila lihat video KJ yang nyaris ditibai…

    Merindu kepastian – Art Fazil – Video

    Andai kau menjadi pelangi
    Biar ku jadi awannya
    Agar kita selalu bersama

    Andai kau menjadi sang duyung
    Biar ku jadi karangnya
    Agar kita sentiasa bersua

    Andai kau menjadi merpati
    Biar ku menjadi sang bayu
    Agar kita sering bertemu

    Andai kau menjadi puisi
    Biar ku jadi melodi
    Bersama kita menyanyi

    Andai ku menjadi rembulan
    Sudikah kau menjadi kejora
    Hingga pagi nanti

    Andai esok aku menjadi tanah
    Sudikah engkau menjadi bunga
    Menghiasi dadaku

    God speed our angkasawan….

    Tonite, we will witness our angkasawan will join two others, one astronaut and one cosmonaut, embarking to a journey called “Expedition 16”, a journey to ISS, a jointly owned space station via Soyuz TMA 11 rocket.

    Either Dr. Faiz Khalid or Dr. Sheikh Muzhaphor, the selected angkasawan will be the first Malaysian in outer space. And surely, this wont be the last.

    A bit off track, but quite relevant, I would like to share one of my favorite songs, Space Oddity. Hope our angkasawan wont turn up to be a Major Tom.

    Space Oddity – David Bowie

    Ground control to major tom
    Ground control to major tom
    Take your protein pills and put your helmet on

    Ground control to major tom
    Commencing countdown, engines on
    Check ignition and may gods love be with you

    Ten, nine, eight, seven, six, five,
    Four, three, two, one, liftoff

    This is ground control to major tom
    Youve really made the grade
    And the papers want to know whose shirts you wear
    Now its time to leave the capsule if you dare

    This is major tom to ground control
    Im stepping through the door
    And Im floating in a most peculiar way
    And the stars look very different today

    For here
    Am I sitting in a tin can
    Far above the world
    Planet earth is blue
    And theres nothing I can do

    Though Im past one hundred thousand miles
    Im feeling very still
    And I think my spaceship knows which way to go
    Tell me wife I love her very much she knows

    Ground control to major tom
    Your circuits dead, theres something wrong
    Can you hear me, major tom?
    Can you hear me, major tom?
    Can you hear me, major tom?
    Can you….

    Here am I floating round my tin can
    Far above the moon
    Planet earth is blue
    And theres nothing I can do.