OPEC Calling Non-OPECs to Boost Production Too
By: Lance Winslow
The President of the United States of America has proclaimed that America is Addicted to Middle Eastern Oil and has set forth initiatives for technology advances to cure this addiction.
Believe it or not it is having a very profound affect on Middle Eastern Oil Producing Nations to increase production to keep the prices livable and for good reason. You see if the US puts her mind towards solving this issue then we will develop alternative energies and thus not need the oil. Therefore it behooves the Organization of Petroleum Exporting Countries (OPEC) to increase production.
But do you know what else is happening? Now OPEC is asking and pleading with the non-OPEC oil producers to ramp up production to stop the fast rising world oil prices and guess what? If they do not and prices rise then all the Industrialized will have an economic slow down and the US and many other nations will move towards other ways to produce energy and fuel for cars.
This means we will not be buying much oil and that will severely hurt Middle Eastern Oil Producing Nations in the future. Which non-OPEC nations is OPEC asking to up production? Well Russia, Mexico and others so far. But it appears not only is the US working to stop our addiction, but we are also creating an Ace Card, which is helping us in negotiating and protecting world oil prices even with the massive increase in World demand as China and India come online. Consider this in 2006.
Lance Winslow