Pages

Friday, October 17, 2008

ARE WE REALLY SUPPOSED TO FEEL BAD??



Are we really supposed to feel bad for OPEC?? With the stock crisis, most Americans don't have a pot to piss in, much less a window to throw it out of and we're supposed to feel empathy for these billionaire scoundrels who manipulate the world's oil production to their advantage??

Via The International Herald Tribune:

Oil prices plummeted Thursday, falling below $70 a barrel for the first time in 16 months, prompting the OPEC oil cartel to call for an emergency meeting next week.

The rapid decline in prices had alarmed both petroleum company executives and oil producers, who are becoming increasingly nervous that oil's roller-coaster ride undermines the stability of energy markets.

Oil prices have dropped sharply in recent weeks amid the economic crisis and lower consumption in developed nations. In New York, oil futures fell as much as 8 percent to $68.57 a barrel Thursday, their lowest level since June 2007. Oil has lost half its value since hitting a record $147.27 a barrel in July.

To read the rest, click HERE.

1 comments:

Keith said...

I feel no sympathy for those fat cats at OPEC. I'm thrilled about this. They deserve this. They make me sick.