Iraqi Official says $100 Oil is Fair

An Iraqi Minister says that $100 per barrel oil is fair market price for consumers to pay. He goes on to say that if the price of oil continues to fall, that OPEC will cut production to drive the price back up. Gee, that’s what we need, higher oil prices in the midst of a worldwide economic collapse.

http://www.forbes.com/feeds/ap/2008/10/16/ap5563662.html

The greed of OPEC knows no bounds and only illustrates the need for the US to unplug itself from foreign oil. We need to research alternative energy, build more refineries, and dill in our own backyard.

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Published in: on October 16, 2008 at 3:28 pm  Leave a Comment  
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