How does OPEC control the US economy???

Question

How does OPEC control the US economy???

Answer 1

Americans live with the daily threat that OPEC nations will vote to stop delivery of oil to the US due to any number of issues including our unquestioning support for Israel and the lunatic war in Iraq. Their control is at least as much psychological as economic.

As pointed out above, every aspect of our daily lives is dependent on oil from potentially unfriendly nations like Venezuela (our largest single supplier), Iran and Saudi Arabia.

The complicity of our ruling oiligarchy only exacerbates the potential catastrophe by not setting policy to wean ourselves of this dangerous and dirty commodity.

Answer 2

OPEC controls oil prices. The US economy depends on oil.

Answer 3

go to thier website opec.org

Answer 4

Have you bought gas or diesel lately? Remember everything you purchase arrives by truck or train. Then there's the the fact that a surprising amount of our consumer products are made from petroleum by-products. I don't know that O.P.E.C. controls our economy but I can't think of anything else that can have as much impact on it as them. All they have to do is cut back on production or worse yet stop. The thing that drives me nuts is taxes on a gallon of gas climb right up as the price rises. Everyone is upset with the likes of Exxon's profits, but no one says a thing about the windfall increase in tax revenues the government gets from this. Out west in the U.S. 15-20% of the cost of a gallon of gas is tax (federal,state&local). The government makes more off a gal. than the oil companies do !!

Answer 5

The OPEC controls the supply of oil to US and usually for purposes of getting a higher price.