Oil price slide is an emergency for OPEC nations

…”That’s when OPEC members started to realize two very important things,” said Simmons, an investment banker who wrote the bestselling book Twilight In The Desert, which argues production from some major Middle East oil reserves is declining faster than most people realize.

“They realized everything they’d been told by the economists, that $40 oil would cause a recession and bring on alternatives, just wasn’t true. And they realized that for the first time they had enough money to create a sustainable society in the Middle East.”


Many OPEC nations looked around the world and saw $147 oil didn’t cause economic Armageddon, and that developed countries