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Since oil prices plummeted to below $70 a barrel, the Organization of Petroleum Exporting Countries has been talking about cutting oil production to respond to a demand that just keeps dropping. Today, OPEC is doing it. It announced a plan to cut oil output by 1.5 million barrels.
With the g ... Continue reading »
With the g ... Continue reading »
8 months ago
8 months ago
7 months ago
In 2004 when oil prices doubled their response was to cut production by 1 million barrels per day.
This unchecked greed will seriously impair the world economy and make it more difficult for the world to snap out of it's current econimic crisis.