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    Repiglican Roast

    A spirited discussion of public policy and current issues

    Name:
    Location: The mouth of being

    I'm furious about my squandered nation.

    Sunday, June 01, 2008

    OPEC president says oil prices not tied to market. Rather Tied to T Boone Pickens' Rectum

    The weak U.S. dollar, market speculation and the subprime crisis are the causes for the spiraling price of oil, OPEC's current president said Saturday.
    [...]

    He notes that OPEC controls only 40 percent of world oil production, and says the high prices do not reflect market conditions but rather other factors linked to the weakening dollar, market speculation and the U.S. subprime mortgage market turmoil.

    Oil prices recently reached $135 a barrel before falling to less than $130 Friday.

    [...]

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