Opec income hits record as oil prices soar »
Posted By TechnologyExpert 5 months ago in NewsOpec nations earned as much in the first half of this year as they did in the whole of 2007 – thanks both to record oil prices and record production – triggering a big increase in its spending.
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tiredofwhiners4 months, 4 weeks ago
And it's all because of rich western countries buying their oil. As stated it is a cartel, something the U.S. outlawed 100 years ago. If the U.S. developed their own, the cartel would run into some stiff competition. Our offshore, Alaskan, North Dakota Bakken field potential, shale oil and coal to gas far overshadow anything the cartel can produce (total reserves of all these in the trillions of barrels). But, no, we let everyone else produce and spoil their environment. We keep our environment pristine and gradually slide into 3rd world debtor nation status. The U.S. is the most backward country in the world when it comes to developing their own resources. Australia was a big importer of oil until recent years. They have now become energy independent because that is their national policy. We should follow their lead and do the same. Norway is a big oil exporter. All of it is offshore. France relies on nuclear power for most of its electrical power. South Africa uses gasoline made from their coal and is oil independent when they have no oil of their own. The U.S. has it all and is the biggest importer in the world. Go figure.
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Lurch4 months, 4 weeks ago
yeah but they`re paying more taxes so you liberals should just shut up and let them continue to rape the American consumer.
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tchef4 months, 4 weeks ago
This is why we need to work on getting off of oil. If we drastically reduce our dependence on oil we won't need to bother with the middle east.
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nikkibabe4 months, 4 weeks ago
Bush & Cheney are laughing all the way to the Bank. They effectively made this happen by invading Iraq and cutting all oil supplies from that country.
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