Response to Blog post #10

This is a video of OPEC meeting and agreeing to cut oil exportation to the United States. This was reported by John Chancellor on the evening of October 17, 1973.

Blog Post #10

As of recent OPEC has deemed the worlds oil supply "worrying." A chief oil executive at OPEC, Mr. El-Badri stated, "We need a price where we can invest in new capacity, new supply and also cater for the wealth of our people. Anything below $70 will not permit us to invest." With OPEC supplying 40% of the worlds oil supply a fault in production will very easily throw much of the world into economic crisis.