Is opec countries keeping the rest of the world to ransom by not pumping more oil.?
No. The countries who are keeping the rest of the world at ransom by not pumping more oil are the United States, Canada, England, and Mexico. These four countries have “environmental” issues Opec members don’t really care about. The Iraqi government doesn’t care about the “ordinary” citizen. The Iranian government doesn’t care if 80 to 90 percent of their people live in poverty, as long as 10 percent live in opulence. Hugo Chavez doesn’t care how many people in Venezuela live in poverty as long as he can have his yachts and trips to Monte Carlo. Americans have been led to believe that Opec is responsible for the high prices of oil. That is not true. The United States has many oil resources that could be addressed if they really wanted to.
