Big Oil went on the defensive this week, being grilled before a House Judiciary Committee antitrust panel. It denied denying accusations that mismanagement and a lack of competition are the reasons behind this spring’s record gasoline prices in the US. Already there have been four record prices this week. The surge has been attributed to … Read More
OPEC
Angola and Sudan to follow Ecuador to Opec
Angola and Sudan have followed Ecuador in saying they may join Opec, a move that would boost the power of the oil cartel, add impetus to resource nationalism and put international oil companies on their guard. Angola, Sudan and Ecuador would boost Opec output by 2-million barrels a day, or 6%, and bring 10,5-billion barrels … Read More
OPEC Worries Over Climate Change
As climate change moves up the political agenda, with even rumours that President Bush is going to make an a massive U-turn on the subject, another bastion of sceptics is starting to worry about the subject – OPEC.At a recent OPEC conference in Vienna, Claude Mandil, executive director of the International Energy Agency told OPEC … Read More