Quote:
Originally Posted by 97240sx
http://money.cnn.com/2008/06/06/news...ion=2008060614
The link is already old, oil gained $10/barrel in one day, 6/6/08. Is this even a problem? If it is, then what can we do about it? Can high oil prices lead us to invest more in alternative energy?
Maybe it's time to look at selective drilling at home with strict pollution and emission standards? They say that even if we start drilling now, it would take 10 years for that oil to come to market.
Is this a problem or not? Do we act?
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The Anti-American OPEC Monopoly
OPEC was created in 1960 by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. It now includes nine other oil-producing nations – Algeria, Angola, Ecuador, Indonesia, Libya, Nigeria, Qatar, Saudi Arabia and the United Arab Emirates. Its stated goal is “to co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers.”
But in reality, its effect is less than “fair” and “stable,” said Cato Institute Senior Fellow Jerry Taylor. He wrote in March 2004 that OPEC contributes to the instability of oil prices...
http://www.businessandmedia.org/spec...udeCompany.asp