OPEC’s empty toolkit

Set America Free’s Gal Luft quoted in a Fortune article about how OPEC, the oil cartel, is constraining global oil supply and driving up price. The article starts: ”
The leaders of OPEC says its members have plenty of oil to meet demand. So why aren’t they putting more on the market?”

In a case of life imitating satire, recently OPEC’s president Chakib Khelil said that “the intrusion of bioethanol on the market” was alone responsible for 40% of the increase in oil prices. Yeah….right. Perhaps he’s been drinking some.

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