OIL: Recycling Showdown

Like stubborn generals squabbling over strategies, U.S. and European leaders have been divided as to just how to deal with Middle Eastern oil producers. The U.S., which is relatively rich in energy resources and thus only moderately dependent on foreign oil, favors an adversary approach; it hopes to weld the world's most important oil users into a united front facing the 13-nation Organization of the Petroleum Exporting Countries in a long-term effort to drive down oil prices. Western Europe, which gets most of its oil from the Middle East, is wary of schemes that would anger OPEC and possibly precipitate...

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