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‘Use of oil as weapon by nations threatens OPEC’
 [DAWN] Any country using oil as a weapon could cause the collapse of oil producer group Opec, Iran’s Oil Minister Bijan Zanganeh said on Wednesday, according to SHANA, the news outlet of the oil ministry.
Using oil as a weapon is why they have OPEC. I happened to be driving across country that year.
| One would feel for them, if they hadn’t used oil as a weapon for nearly half a century. But right around the half century mark they will have discovered the hard way that this weapon points both ways. Now they can enjoy their return to their traditional role as Bedouins at the fringe of civilization — observers rather than actors on the world stage. Goodness knows the world will be better for lack of their interference. |
Oil prices hit their highest since November in recent days after Washington said all waivers for those importing sanctions-hit Iranian oil would end this week, pressuring importers to stop buying from Tehran and further tightening global supply.
Posted by: Fred 2019-05-03 |
