http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/11140156/World-on-the-brink-of-oil-war-as-Opec-bickers-over-price.html

A secretive group of the world’s most powerful oil ministers will soon gather in Vienna to take arguably one of the most important decisions that could affect the still fragile world economy: whether to cut production of crude to defend prices at $100 per barrel, or keep open the spigots as winter looms among the biggest energy-consuming nations?

A sudden slump in the price of crude has exposed deep divisions within the Organisation of Petroleum Exporting Countries (Opec) ahead of its final scheduled meeting of the year next month to decide on how much oil to pump.

Some members, led by Iran, have called for immediate action to stem the drop in oil prices, while the Arab sheikhdoms of the Gulf have so far argued that it could be another three months before it becomes clear whether the group should cut production for the first time since December 2008.

Whatever they decide, oil remains the lifeblood of the global economic system due to its direct impact on inflation and input prices. Brent crude – a global benchmark of oil drawn from 15 fields in the North Sea, dipped last week to multi-year lows below $92 per barrel as a perfect storm of a strong US dollar, oversupply in the system and declining demand shattered confidence in the market. Brent has tumbled 20pc in the last three months after touching $115 per barrel in June.

Rest is in the link

Well, I'm all for cheap gas. Glad to see the oil market under-cut each other and not keep a monopoly on prices, for the time being that is. Hopefully this translates into a decrease of over-all prices since oil is what controls the value of money

It's exciting. I haven't seen 2 dollars in years.

The government needs to stop taxing gas so much.

Fuc­king government.

Quote from: Ebola-Chan on October 15, 2014, 09:09:21 AM

Don't hold your breath. Once I spread, everything will go to shit lol.

I bet that if you caught Ebola in real life you wouldn't be joking around with that meme anymore.

Somebody doesn't want to feel Ebola-Chan's love. Know what's funnier than Ebola? 9/11 and the Holocaust

I saw $3.17 at my local gas station ;_;