Posted Sep 11 2008, 07:01 AM by Douglas McIntyre

Saudi Arabia walked out on OPEC yesterday, saying it would not honor the cartel's production cut. It was tired of rants from Hugo Chavez of Venezuela and the well-dressed oil minister from Iran.

As the world's largest crude exporter, the kingdom in the desert took its ball and went ( Read more... )

Ahmadinejad to OPEC: Dump weak dollar
Market full of oil, price trend fake: Ahmadinejad

Reuters

17 June 2008

ISFAHAN, Iran - The oil market is plentifully supplied and the rally to record high prices is "fake and imposed", Iran's president said on Tuesday, blaming a weak U.S. dollar which he suggested was being pushed lower on purpose.

"At a time when ( Read more... )

All the stupid people, where do they all come from?

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WASHINGTON (Reuters) - The House of Representatives overwhelmingly approved legislation on Tuesday ( Read more... )

This article appears in the May 9, 2008 issue of Executive Intelligence Review.

A Crude Game

by John Hoefle

The use of petroleum as a weapon by the British Empire has been a key feature of the oil business since its beginning. The original oil fields, in Pennsylvania and Texas in the United States, and in Russia, were taken over by British-allied ( Read more... )

Related
War with Iran will push Oil over $200 a barrel and destroy an already fragile US Economy!!!
Clinton: OPEC 'can no longer be a cartel'

[The only way to break up OPEC would be war making gas prices would go up. Whose side is Hillary on?]


( Read more... )