OPEC To Cut Production?
by Jonathan Schanzer • Aug 18, 2008 at 10:36 am
The Organization of Petroleum Exporting Countries (OPEC) may cut the cartel's output as crude oil risks falling under $100 a barrel, Middle East Online reports.
"The worsening economic outlook suggests that oil prices have further to fall, but OPEC... may act to prevent them from falling too far," the Centre for Global Energy Studies noted in a new report."There is a danger, though, that the Organization will over-react, cut its production too sharply and send oil prices back up."
OPEC, a consortium of thug-ocracies, maintains a stranglehold on American fuel, prompting analysts such as Gal Luft and Anne Korin to mull ways to set America free with new fuel technology. As this commercial called "Nozzle Rage" implies, this new technology cannot be implemented fasted enough.
Related Topics: Oil | Jonathan Schanzer
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