Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
As America relies on oil import and is obviously dependent on OPEC, so is OPEC dependent on oil export
(quite a trivial statement but it is the reality of demand/supply economics.) The Arab countries actually
develop their economies on oil export in order to earn foreign currency. They will be doomed to poverty if they do not find market for the oil. The black gold according to me will be the leading energy source in short and middle term. By the way, I recommend the book "The Seven
Sisters" by  the British journalist Anthony Sampson about the history of the oil industry, published in 1975.
It will elucidate the opinion that not only OPEC will lose if oil is replaced by other sources of energy...

I'm not ugly,but my beauty is a total creation.Hegel
by Chris on Wed Feb 8th, 2006 at 04:28:18 PM EST
You speak as if there's a choice in the matter. The world is going to run out of cheap oil.
by Colman (colman at eurotrib.com) on Wed Feb 8th, 2006 at 05:25:45 PM EST
[ Parent ]


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