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    • Tue Dec 2nd 15:44 PM
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      OPEC and Production Cuts: Why Now's the Time to Buy
      So far, OPEC doesn't seem to have the gumption to really cut production. Although they talk about it a lot and even publicize cuts, they don't really follow through in any sustainable fashion. I'm guessing that this is due to three reasons:

      1) Each member of OPEC has it's own agenda. Many of them just **need** the cash flow to support their social programs.

      2) The Saudis do have ties to us, seem to understand that the world is in a financial situation and realize that if they cut production, they might cause a further deterioration. To my way of thinking, the Saudis are the most forward thinking of the Cartel.

      3) It's quite possible that they feel they cannot stop the downward spiral of oil pricing and can only talk tough.

      All of my opinions are short term. When the economy gets going, or when the the market realizes we are underproducing oil, then price will skyrocket and we'll al