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Spiking oil prices.(LETTERS TO THE EDITOR)(Letter to the Editor)
The spike in oil prices is a classic result of a cartel-dominated market (THE NEW AMERICAN, "Energy's Future," April 4, 2005). The oil producers can confidently slow down their exploration and production activities --and make even higher profits than if they were truly competitive.
An unhealthy factor since March 2003 has been the entry of the U.S. government in support of the oil cartel OPEC via the occupation of Iraq. For two years, all votes of the Iraq/US delegate have been to support more cutback quotas. Along with the other ten members of OPEC, plus ...
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Source: HighBeam Research, Spiking oil prices.(LETTERS TO THE EDITOR)(Letter to the Editor)