28.06.2012 - OPEC (Oil Prices Explain Crisis)
On the Deep End we don’t exactly overlook the contribution of the Eurozone to the great economic crisis of our times. But there is another multinational enterprise that deserves the occasional mention – the Organisation of Petroleum Exporting Countries (OPEC). OPEC’s "fair" price is based ultimately on the budgetary needs of the cartel’s members, whose appetite for petrodollars has increased significantly since the onset of the so-called Arab Spring. Hoping to avoid the fate of leaderships in Egypt and Tunisia, Persian Gulf regimes have showered their people with gifts and subsidies...............................................Full Article: Source
Print