OPEC cutting oil production

OPEC to cut 1M bpd oil supply, says OPEC delegate – Oct. 5, 2006

Wow, what a shock.  OPEC is acting to protect their interests.  I haven’t seen a backlash against this yet (And maybe I’m just not paying attention), but the first time I hear someone complain about gas prices because of this, I’m going to smack them.  Let’s see . . . many of these countries get a huge amount of their revenue from the sale of oil.  Oil prices are dropping.  Basic economics says to cut back on the supply to keep the prices up.

It’s nothing personal against the United States.  Well, maybe it is to some extent, but not really.  It’s just business.

Anyway, I want to see gas prices hit $10 a gallon.  Maybe $20.  How long before we’re all driving cars powered by hydrogen fuel cells, or biodiesel hybrids, when it costs $900 to fill up your Escalade?  For the record, I drive a Mazda 3.  I get between 23 and 32 miles per gallon, depending on traffic and amount of highway driving.

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