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Commodities Briefing - Categorized | Market Moves, Oil more

Why the U.S. won’t join OPEC

Posted on 15 November 2012

Just hours after the International Energy Agency made its prediction that the U.S. would become the world’s dominant oil producer in eight years, I got an email suggesting that the U.S. should join OPEC.
When I asked the sender if he thought OPEC would have us, he sent me a copy of OPEC’s rules on membership and noted that “we share the same objectives of price stability and return on investment.”
Actually, we don’t. In the U.S., the investment return is for oil companies and their shareholders, while for OPEC countries, the return is for state-owned oil companies and, ultimately, the governments of the member countries………………………………………..Full Article: Source


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This post was written by:

VRS - who has written 37188 posts on Opalesque Commodities Briefing.


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