Oil at $104 dollars a barrel suits OPEC just fine, as you might expect:
VIENNA, Austria - OPEC said Wednesday it will not put more oil on the global market despite record-high prices for crude, blaming the U.S. for economic "mismanagement" it said was having a worldwide effect...
The U.S. dollar on Wednesday sunk to record lows, with the euro fetching $1.53 for the first time ever in Europe.
The 13-nation Organization of Petroleum Exporting Countries said it would maintain current production levels because crude supplies are plentiful and demand is expected to weaken in the second quarter.
OPEC President Chakib Khelil told reporters the global market is being affected by what he called "the mismanagement of the U.S. economy," and that America's problems were a key factor in the cartel's decision to hold off on any action.
No wonder Shrub was tap dancing today at the White House...for the next ten months he'll be dancing as fast as he can to try to keep things together long enough to slink down to Crawford. Some legacy.
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