whatever happened to the "peak oil" theory ? the thing i find funny about this is hugo is trying to convince the arabs to raise the price by cutting production.....he must not have figured out yet that the arabs financial interests are'nt just oil anymore...the arabs have been diversifying for decades and (they'll never tell you) but i'd guess they're much more concerned with crumbling credit markets and the derivitives threat than with the price of crude right now. opec might make a token cut in production to try to stabilize price, show solidarity, etc. but imo the oil rush is over for awhile (8-10years, maybe longer)......i know everyone has their theory on oil but any way you cut it hugo is screwed....the consensus on ven crude is anything below $50 is a loss.....and i dont think we'll see that again for some time.....