How long are the world powers going to stand by and let OPEC destroy the world economy!
OPEC ministers voted Wednesday to CUT world oil production by a record 2.2 million barrels/DAY to force the price back up: no doubt, adding to the misery of the economic recession in the global economy and, more importantly, increasing the already intolerable suffering in the world’s poorest countries.
This, at a time when news reports and documentaries regularly now expose the decadent excesses of greed and outrageous spending in many OPEC countries and by many OPEC leaders and dictators .
We’ve all seen the gold-encrusted furnishings on many a sheik’s private Boeing 747s; the diamond-studded fleet of luxury cars sitting outside outrageously sized private palaces; the man-made private islands dotted with luxury homes; overlooked, of course, by a seven-star hotel.
All this, while the poorest people of Africa, Asia, the Caribbean are held hostage and forced to suffer without fuel that still costs only pennies a barrel to produce in the mid-East … but has been marketed in the worst modern exploitative example of capitalist excess.
OPEC in reality is a monopoly of the few with a stranglehold on the many … and prepared to squeeze to the point of killing off many of the worlds’ poorest peoples’ ability to survive.
Not to mention, of course, the impact OPEC’s greed had in bringing the world economy to its knees … forcing millions of people out of work across the globe, as stratospheric crude oil energy prices put many businesses out of commission and many families out of work.
And does anyone doubt the negative impact OPEC’s excessive pricing orgy has had, coupled with the excessive greed that ran rampant in our own banking and investment system, has had on our economy, our retirement savings, our very lives!
Any yet, it is not enough for OPEC??? A record cut in production to force the price of oil back up!!!
It’s about time our leaders denounce the greedy b*#tards for what they are … cut them off and shut them out of civilized world events, technology and trade exchanges, forums and other gatherings.
At least do SOMETHING to condemn their greed and destructive actions.
Clearly, bowing and scraping .. and holding their hands … has not worked.