Word: opec
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
King Abdullah just summoned everybody to Saudi Arabia to sort out the whole oil business, and the first humiliation for the U.S. is that we came running. Then again, this is old news. For 35 years, since the first oil crisis, we've been treating OPEC, and especially the Saudis, like friendly members of the Society of Important Countries rather than the criminal conspiracy they are. The second humiliation is that the meeting didn't work. The small gratuity offered by the Saudis of a modest increase in pumping had virtually no effect on the price of oil, which remained...
...with the stabilization of oil prices and disarray of the Organization of Petroleum Exporting Countries (OPEC) came a return to complacency. Americans are in the process of forgetting all they learned about energy conservation. Yet convincing signs—including a recently released repot by the International Energy Agency (IEA) indicate that a new oil crisis may develop by the end of the decade that would “deal a devastating blow” to major industrialized countries...
According to the agency report, oil production in the United States, the North Sea, and the USSR will stagnate by the late 1980s and even OPEC output will drop due to “declining reserves in some countries and political decisions in others.” At the same time, the energy needs of Third World countries will increase dramatically thanks to economic development, increasing urbanization, and industrialization. So a large group will be fighting for a smaller...
Somewhat surprisingly, Canada has been reluctant to acknowledge its newly minted status as an energy power broker. "We need to start acting like an OPEC-level player with an ability to change the world economy," says Ross Jacobs of Fort McMurray, a Liberal who was recently defeated in a bid to represent his district in Alberta's provincial legislature. "Canadians need to start thinking globally...
...will raise production when the market justifies it.' ALI AL-NAIMI, Saudi Arabia's Minister of Petroleum and Mineral Resources, after the country rebuffed President George W. Bush's request that OPEC nations immediately pump more oil to decrease record prices...