OPEC is Obsolete

My good friend Brett sent me this link about what OPEC has been doing recently. They are claiming that they are imposing a restriction on oil production in hopes that prices will rise…but prices are doing the opposite. This is further proof that OPEC is being broken. There are several knives in their back…Russian cheating by producing more oil than they tell OPEC they will produce, Central and South America doing pretty much the same thing, and finally (and most deadly for OPEC) the U.S. troops sitting in the Iraqi oil fields.

I think OPEC is nearly meaningless now that the U.S. controls Iraqi oil. I don’t care what anyone says…getting control of Iraqi oil production was a definite objective of the war in that country. The U.S. is now a significant foil to OPEC as Iraq has been restricted from pumping all but a tiny portion of its oil for 12 years now and we can threaten to open the floodgates. It will be interesting to see what happens. Hopefully the price of oil will plummet and I’ll be able to use all the cheap gasoline I need. That new minivan we got goes through gas more quickly than I ever would have thought!!!

A last quick point…the U.S. can now threaten the Saudi monarchy where it really hurts…their pocketbook. The House of Saud is a slimy family of dictators who are the chief financiers of Islamic extremism (Wahabbism) throughout the world. Any money taken out of their pockets is money that is taken away from the wackos…this makes my family safer than they otherwise would be. I think its great that one of the chief aims of the Iraqi war was oil.

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