Reuters-Saturday April 5, 2:46 pm ET
Market supplied with enough oil, OPEC official say:
TEHRAN (Reuters) - The oil market is supplied with enough crude and OPEC is not under pressure to raise output, the group's secretary-general was quoted as saying on Saturday during a visit to Iran.
Oil supply to the market is enough and high oil prices are not due to a shortage of crude but rather it is because of the decrease in the dollar's value, ...
..."Because the increase in oil prices is not related to a shortage of supply and because crude markets are stable ... "
Oil prices rose more than 2 percent on Friday as weakness in the U.S. dollar...
Asked whether OPEC members may abandon the dollar for pricing oil, Badri said "each individual country can decide to get its oil income in currencies other than the dollar based on its interests." [full article]
Dr.UnSpin~
So... There is NO OIL SHORTAGE!? It is just getting more expensive because the US Government is doing it's best to keep the value of the American Dollar, LOW.
Why would the government want the value of their currency low? Because it makes the MADE IN USA goods more affordable for export. Dr. UnSpin will launch an investigative report on the conspiracy to keep the American Dollar, low in value. More later.
One thing about Americans...! We like to drive!
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