What is it going to take for the U.S. to start throwing mass resources at finding alternative energy sources?
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OPEC says it has lost control of oil prices
Cartel producers say they can’t
keep up with strong global demand
Despite a pledge by OPEC ministers to increase oil production, don’t expect much of a break on oil prices. With crude oil prices hitting a record $56 a barrel Wednesday, OPEC ministers meeting in Iran have been grappling with a problem they haven’t confronted in the cartel’s 45-year history. In the past, OPEC tried to cool overheated prices by pumping more when supplies got too tight. But most OPEC producers say they’re already pumping as fast as they can. And despite the high cost of a barrel of crude, world demand shows no signs of slowing.
US consumers who drive SUV's in a survey recently said that they can withstand the ppg to reach $3.50. Unless your habits change..you can't get out of this mess.
Meet me in Vegas..we cna talk about how to bring down OPEC and start our own screw the arabs business model.