As production declines, increasing petropower for the cartel
Following last year's 125% hike in the cost of crude oil, the OPEC cartel is now moving on a new tack in its offensive to win control over the world petroleum market. It is seeking to dominate global energy by reducing production in order to keep prices artificially propped up and to diminish the power of the so-called Seven Sisters, the major oil companies like Exxon and Shell that controlled world oil for half a century. These actions could result in a tense escalation of global...
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