OPEC

Guess I've in the past mis-monikered what the acronym OPEC actually stands for.

Correcting myself here.

OPEC = Organization of the Petroleum Exporting Countries.

In the past I've personally mis-translated the acronym and more than once.

I believe my errors occurred in my haste to try and convey a point or two.

So - I was wrong on that but I still think I'm right in stating that they're no friends of ours.

I'll submit to a punishment of twenty lashes with a wet noodle but no more.

Apologies - but not so much.

To hell with OPEC.

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Permalink Reply by Barry D on March 30, 2016 at 3:34am

Joseph,

You are absolved.

Yes indeed, to hell with OPEC.

The sad part of our alliance with certain OPEC nations is that we import very little oil from OPEC states.

However, many of our allies, in particular NATO countries, rely heavily on oil from the OPEC states.

So we billions of dollars protecting oil sources in the middle east which we essentially don't use and our allies contribute very little.

Sounds like a good place to cut some military spending.

Also sounds like a good reason to ramp up oil and gas development here at home to make sure we are as close to self sufficient as possible.

Permalink Reply by Joseph-Ohio on March 30, 2016 at 4:47am

Thank you for your forgiveness / absolution / understanding.

On OPEC and we (the USA) - our agreement is absolute.

But I will add that I think it's way passed time but also let's see post haste to forging trade agreements with any allied country still doing business with OPEC (for the allied country still doing business with OPEC to switch to buying only our production instead).

What's leadership waiting for on that ? Politics ?

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