Word: opec
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...WILL OPEC'S DECISION TO RAISE ITS OIL PRODUCTION MAKE ANY DIFFERENCE...
PURNOMO YUSGIANTORO, OPEC president, arguing that even after crude oil hit a 21-year-high price of $41.85 a barrel, the cartel has limited power to control the cost of fuel
...Iraq was insightful and timely [April 19]. A majority of Americans initially backed the war, and it is appalling to watch that support vanish as people are asked to do more than place flags on their SUVs. Keeping the gas tax at its current level only serves to enrich OPEC nations at the expense of the U.S. The heads of Ford and General Motors have already voiced support for an increased gasoline tax. It's time for the rest of America to join them. NEAL GORDON Los Altos, Calif...
Libyan leader Muammar Gaddafi may be secretive, but we know this: he has great timing. Just when OPEC cutbacks and declining reserves are driving up oil prices, Gaddafi's mea culpa on his weapons program and open invitation to foreigners to explore for Libyan energy are gaining Western oil firms' interest. First to benefit: Royal Dutch/Shell, the Anglo-Dutch conglomerate, which last month signed a $200 million deal with Libya's state-owned oil-and-gas company to search for reserves and build a liquefied-natural-gas terminal. Shell could use a new partner: this year it has twice admitted...
...security. As a result, Russia’s five largest oil companies have been looking into constructing a pipeline from Western Siberia to Murmansk on the Arctic Ocean. From there, a supertanker could transport oil to the eastern seaboard of the United States, helping to alleviate its dependence on OPEC...