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Reply #5: The oil industry doesn't want Congress to act [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010)

Idealism

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Fri Nov-21-08 11:51 AM
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5. The oil industry doesn't want Congress to act

If there is a continued threat of oil losses that would've brought the commodity to the US, OPEC would welcome that, hoping that it would cause oil prices to jump- even a dollar. They are all about their bottom line, and if cutting production hasn't worked (and they will be limiting production again this month they meet to decide just how much more to) they will look anywhere they can. They welcome any problems getting oil to market, especially when they've shipped it off and its no longer their responsibility

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