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Post by Ravensword on Mar 4, 2016 16:55:31 GMT -6
www.businessinsider.com/iran-pushes-opec-oil-output-to-new-high-2016-1Here is the latest in the Shia-Sunni grudge match. Iran, fresh from US-lifted economic sanctions, want to jack up oil production to inject some much needed revenue into its economy. The rest of the OPEC countries (led by Saudi Arabia) are, naturally, against this, as it will further push down the price per barrel to even further lows. If this winds up leading to Iran leaving OPEC, it will fracture one of the world's most influential cartels and will sunder the last ties of cooperation Iran has with its Sunni neighbors. I say Iran should totally go for it. However, even better, and I know that this is a pipe dream, if the rest of the world would start making serious efforts to go towards renewables, that would cause the price per barrel to plummet, and pretty much shatter all the OPEC countries. The organization itself would collapse since it would be redundant, but I imagine that Middle Easterners would be paying pennies on the dollar for gas. The best thing about this would be a world where everyone else loses interest in the Middle East. No more bowing and scraping to the Saudi leader, handwaving their backwardness and misogyny even after just visiting a country where we lectured them on their backwardness and misogyny. That is shameful. |
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