Saturday, Nov 28th

Last update12:32:43 AM GMT

You are here News Energy OPEC Faults U.S. As Oil Hits New High

OPEC Faults U.S. As Oil Hits New High

E-mail Print PDF

OPEC on Wednesday accused the U.S. of economic "mismanagement" it said is pushing oil prices to new record highs, rebuffing calls to boost output and laying the blame at the feet of the Bush administration.

OPEC President Chakib Khelil told reporters the global market is being affected by what he called "the mismanagement of the U.S. economy," and that America's problems were a key factor in the cartel's decision to hold off on any action.

"If the prices are high, definitely they are not due to a lack of crude. They are due to what's happening in the U.S.," Khelil said. "There is sufficient supply. There's plenty of oil there."


Most Recent Related Stories...

Scotland hosting new type of offshore wind program

Scotland floats new wind programThe Scottish government said it granted a license to the operators of what Edinburgh said may...

Japan now has more car charging points than gas stations

Japanese charging pointsNissan Motor Co. has reported that Japan now has more places to charge electric vehicles than...

Oil Services Co.,Baker Huhes, lays off 10,500

Baker Hughes "Extreme market forces" are in play in the global energy sector, oil services company Baker...

Researchers turn solar energy into liquid fuel

Solar energy to liquid fuelA small number of vehicles on U.S. roads are already indirectly powered by the sun. Ostensibly,...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!