The American Empire in a Changing World


Thursday, November 15, 2012

''Warning from OPEC over US oil production''

From The National

''The head of Opec warned yesterday that if predictions that the United States will surpass Saudi Arabia as the world's biggest oil producer continue, the result will be a reduction in investment by his members that will hit oil consumers.

"If this message keeps coming, there will be no investment" from Opec members, said Abdalla El Badri, Opec's secretary general, adding that "consumers will lose".

Mr El Badri's rebuke came less than 24 hours after a prediction by the International Energy Agency (IEA), the industrialised nations' adviser on energy policy, that US oil production will exceed that of Saudi Arabia within five years.''

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