Monday, November 19, 2007

No Need to Go To The OPEC Meeting

The Queen's policy seemed to have worked, or even paid off when today's OPEC meeting turned out to concentrate on the problem of non-OPEC influences on the price of oil. Instead of the organization's mere discussion of raising or lowering production quotas, the oil demand by India and China turns out to be a more significant driving factor behind the prices.

The weakened US economy, with its chain-reaction effect on the dollar, and subsequently, the OPEC's member countries currencies pegged to the greenback does not bode well, neither the prospect of milking out an additional million or two per daily quota.

For those who remember the alleged SCS (the name is still media-defined) report that Russia's Putin was overheard discussing with Iranian and Venezuelan dictators the manipulation of world politics as a means to control the price of petroleum. Who heeded the report? The US administration is still hiding its head in the sand, or sticking to the lily-livered castles of the globalization, or its intelligence community is doing all of the above plus singing to the tune of the late CIA Chief Casey's "There are no Kremlin moles in the CIA."

The Queen was right in establishing the interim U.S. dollar as the currency for Attland, which was a prelude to the gold standard. That plan turns out to have saved us from worrying about the falling US dollar, the rising cost of petroleum and gold.

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