Monday, August 30, 2004

Hurray for gas prices: "The head of the OPEC producers' cartel said on Monday that the group, which controls more than half of world exports, aimed to increase spare output capacity by about one million bpd in the next few months in an effort to bring down sky-high prices."

I found that an interesting piece of news because it said that recently busted Iraqi pipelines wouldn't be fixed for five days or so; you'd think stabilization in Iraq would be the explanation for the 41 dollar a barrel oil prices compared to the almost 50 dollar prices earlier, but it's just OPEC trying to make the global economy not suck, evidently. It seems the world doesn't revolve around everything America does, now isn't that fascinating? Besides, China's the biggest consumer of oil now that so much industry is centered there.

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