UPDATE: Now Natural Gas prices will be going up!!!
Russia, Iran and Qatar appararently have agreed to form cartel like OPEC for Natural Gas production. I do not believe this is an accident. IMHO, this is a deliberate attempt to force the U.S. into an economic depression so that our influence in the world is reduced and Russia can again exert influence.
Economic War Declared on U.S. by Iran and Venezuela (Russia, Iran again): When Will U.S. Respond?
The old headline to this diary was :”OPEC Pushing to Cut Production, Drive Up Oil and Gasoline Prices”
When oil prices fell to $106, OPEC reduced output to drive up price.
When world economic crisis occurs, OPEC, at the encouragement of Iran and Venezuela, plan to reduce production to drive up prices.
OPEC’s actions will push world into sharp economic decline. When will we respond to this obvious attempt by our enemies to destroy America?
Just one option: Coal can be converted to gasoline more cheaply than oil when oil is above $30 per barrel. We have tons of coal. Gasoline derived from coal burns cleaner and reduces CO2 emissions by 25%. Oh and by the way, a major source of coal is Pennsylvania, and displaced SUV auto plant workers in Ohio could easily be put to work in the facilities used to convert coal to gas…
just a thought…