June 6, 2007
OPEC Threatens Industrialized World
Wally wrote this in the early afternoon:
According to an article at FT.com Abdalla El-Badri, the secretary-general of the Organization of the Petroleum Exporting Countries says that the OPEC cartel is considering cutting investment in oil production as a result of attempts to bring bio-fuels online in the U.S. and other oil consuming countries.
How ironic that middle eastern countries who have already transferred a great amount of wealth from the United States to themselves through oil feel they can threaten oil consuming countries. They have us in a strangle hold and they’re not afraid to squeeze us harder.
Filed under: Politics
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