Wednesday, May 07, 2008

Clinton blames OPEC monopoly

take a good long look at this map.

from: Commodity Online

INDIANA: US former first lady and Democrat President Candidate Hillary Clinton criticized OPEC for its monopolistic policies after oil broke the symbolic $120 a barrel barrier on Monday.

Speaking to reporters here, she said "They can no longer be a cartel, a monopoly that get together once every couple of months in some conference room in some plush place in the world.

"They decide how much oil they're going to produce and what price they're going to put it at," Clinton said.

"That's not a market. That's a monopoly," Clinton said, in her latest condemnation of the Organization of Petroleum Exporting Countries, as her campaign takes on an increasingly populist tone amid rising gasoline prices.

OPEC, which produces 40 percent of the world's oil, comprises Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, Qatar, the United Arab Emirates and Venezuela.

Clinton has said she would amend US anti-trust law to allow the United States to confront OPEC, and promised to tackle the group through the World Trade Organization, if she is elected president.

...the world's biggest consumer of oil of the past 50 years suddenly wants to change the rules of the game, and old desperately delusional granny knickers, who can't even manage the finances of her own campaign and will get 'hard working americans' to throw good money after bad at her (while the clintons still enjoy their huge fortune) thinks she can single-handedly change the marketplace just to suit america!!!

we never heard bill clinton talk about OPEC like that while president in the whitehouse, and it was business as usual when it suited america, and the almighty dollar ruled the world.

she is also completely and utterly wrong. OPEC only sets the production output, not the price.

i believe american born and bred wall st. commodity traders are very active in setting the price of oil futures (and therefore the price of gasoline), as well as other commodity traders around the world...nobody complains when it works to their advantage.

i didn't see any news coverage of incredibly cheap gasoline at less than $1 a gallon when i first came to this country, even when the the rest of the western world was already paying 3 times as much.

hillary cannot change this market, and she knows it. airlines, for instance, rely on the oil futures market to buy their oil for the upcoming months.

for someone that has spent more than a decade getting in and out of the back of chauffeur-driven limos, pretending that you're one of them, telling a crowd of blue-collared whites what they want to hear, doesn't make their reality disappear. rather it just gives a disingenuous false hope to all those that came out looking for something more.

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