Oil hit a record recently at $135 a barrel. Congress has approved a bill to prevent the government from adding to America ’s strategic stocks of oil, and is contemplating another to enable American prosecutors to sue the governments of the Organization of the Petroleum Exporting Countries (OPEC) for market manipulation.
OPEC members will invest $160 billion in oil development projects in the inayofuata three years to increase their production capacity kwa 15 per cent in response to growing demand.
Increasing oil production is not the answer. The answer is to reduce the demand.
We need to do something...
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