Hybrid Cars - Alternative Energy



Hybrid cars have increased in popularity as of late.Nows the time to support alternative energy solutions and technologies.

Hybrid Cars - Alternative Energy

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Sunday, February 18, 2007

OPEC works to stabilize market despite easing of oil prices

Oil prices are lower after failing to maintain the $60 plus mark achieved last week.



Comments from Saudi oil minister Naimi suggesting the oil market is "balanced" and further cuts would not be necessary are also somewhat bearish.



While prices have backed off last week's sharp lift, OPEC has been working hard to stabilize the market through persistent production cuts. If one observes the long-term oil chart, there is evidence to suggest that OPEC's (and the Saudi's) goal is to stabilize prices in a fairly narrow trading range. Stable prices tend to support consumption, which is always in any producer's long-term best interest. In charting since late August, a case could be made that OPEC's newly desired price range is $55 to $65, based on nearest futures.


In our opinion, the dip in oil prices as seen after New Years was driven by commodity index adjustments and withdrawals rather than simply supply v. demand. Now that this selling has ended, we feel we are now moving back into the earlier trading range as shaped by OPEC.

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