Page added on July 17, 2007
American drivers wince as they pull up at the pump to pay $3 and more for a gallon of gasoline.
Our leaders respond by asking OPEC to produce more oil. Congress passes a ludicrous bill making it illegal for oil-producing countries to manipulate prices by withholding “our oil” from the market.
Washington apparently didn’t note the recent statement of Saudi oil executive Sadad Al-Husseini: “There has been a paradigm shift in the energy world whereby oil producers are no longer inclined to rapidly exhaust their resource for the sake of accelerating the misuse of a precious and finite commodity.
This sentiment prevails inside and outside of OPEC countries, but has yet to be appreciated among the major energy-consuming countries of the world.”
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