Word: cartelizing
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...little diplomatic face time seems to be one way of getting action in the battle against druglords. Mexican President Vicente Fox, in a speech last week to Congress, firmly underscored his country's cooperation with American efforts in the drug war. That very day his officials were arresting cartel lieutenant Arturo (Chicken) Guzman, one of a brother team of alleged cocaine smugglers, who faces charges in the U.S. And just four days before Secretary of State Colin Powell's scheduled visit to Colombia, that country's cops were ushering Fabio Ochoa onto a plane bound for extradition to Florida, where...
Since peaking last September at $37.80 per bbl., oil prices have tumbled to below $25. This breather from high energy costs is going to be short-lived. In the past two years, members of the cartel have stuck close to their output quotas, which they demonstrated in last week's announced production pullback. That will bring crude prices above $25 per bbl. again. Should crude top $30 for a prolonged period, it will further eviscerate U.S. corporate profits and have a deeply corrosive effect on the entire U.S. economy...
...OPEC GETS POLITICAL Since peaking last September at $37.80 per bbl., oil prices have tumbled to below $25. This breather from high energy costs is going to be short-lived. In the past two years, members of the cartel have stuck close to their output quotas, which they demonstrated in last week's announced production pullback. That will bring crude prices above $25 per bbl. again. Should crude top $30 for a prolonged period, it will further eviscerate U.S. corporate profits and have a deeply corrosive effect on the entire U.S. economy...
Richardson also urges the Administration to drop its laissez-faire stance toward OPEC and exert pressure on the cartel to raise exports of crude oil. OPEC voted this month to maintain its output at 24.2 million barrels a day. But it will meet again in July to consider raising prices if Iraq continues to withhold oil from the market as part of a running dispute with the U.N. over sanctions...
...Richardson also urges the Administration to drop its laissez-faire stance toward OPEC and exert pressure on the cartel to raise exports of crude oil. OPEC voted this month to maintain its output at 24.2 million barrels a day. But it will meet again in July to consider raising prices if Iraq continues to withhold oil from the market as part of a running dispute with the U.N. over sanctions...