Lightstream Resources Ltd. LSTMF

Open Letter to Any Oil Executive Who Cares to Read

[kmapp]

While this over supply crisis is occurring it makes me wonder why the rest of the worlds oil producers, who provide 60% of the worlds oil, allow themselves to be bullied by OPEC? We need to learn from OPEC's example and form a group of our own that can easily beat up the bully on the block. What I propose is North America including USA, Canada, Mexico and whom ever wishes to join form a group known as:

"F inally U niting C ountries K illing Y our O pec U nity"

Since we in North America function by our companies setting their own policies, budgets, etc. we are not organized, each company doing their own thing to survive. We are witnessing severe cut backs around the world, job losses in the 10's of thousands, budgets cut by the billions and all of this over a million or two barrels of daily over production. In the near future, a couple of years, this over reaction of our cutbacks to OPEC's desire to maintain market share will create a shortage of production the likes we have never seen before. If we coordinated the remaining worlds producers who cared to join the new group we now could stabilize the world oil market by simply announcing we will collectively cut production 2 million barrels daily. This would be spread over many producers so the pain and loss of income of slightly lower sales of oil would be much less than allowing world oil prices to fall 60%. It mystifies me why OPEC would prefer to force a 60% drop to maintain market share. Isn't it about your dollars received for your product rather than how much product you are giving away? Would you not prefer to sell 28 million barrels at $80-$100 than at $40-$50? All OPEC had to do to maintain stability was lower production a small amount spread across 12 members. Right now world chaos is being caused by the Saudis, UAE & Kuwait with little regard to market stabliity or even their other members within their own group, Venezuela for example. Now North America has some responsibility in this mess also by ramping up production so fast as to cause the Saudis et al to worry that nobody will buy anymore of their oil? Nothing could be further from the truth. The world consumes more oil every year so I doubt the Saudis need to worry that they won't be able to sell their oil. Another thing that OPEC should think of is oil is a finite commodity, it will run out one day. Why in the world do you want to deplete your resource at twice the rate for half the price? Does it not make more sense to half your output for twice the price and still have the other half in the ground for future years income. I say why not let the Saudis deplete their oil first at half price and we then in North America will still have our oil once the Saudis run out and are starving since that's the major source of income the Saudis have. If anyone wants to vote for me to become head of this new group I would do my best to convince the CEO's of the oil world to rethink their approach to the present worlds oil crisis as I feel I could do a better job than they are doing presently. It just isn't that difficult to beat up a bully, IMHO. kmapp