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OTEC
Organization of the Tobacco Exporting Countries | |
Certain things have a steep demand curve. Usually things that are addictive. For some reason, Oil follows this demand curve.
Enter OTEC.
Fuel prices have forced us to cut production due to harvesting costs ... <insert more bs here>.
While National supplies remain adequate (we have 4 year
elections to think of), The amount we export will not be strong this year due to fuel costs. The US, Brazil, India, China, Turkey (how's that sound? - EU), and Malaysia have decided that production should remain at 72% capacity while fuel prices remain what OTEC feel are inflated. OTEC has decided that this is in the best interest of the Nations and producers.
(Mwhaah ha ha!)
[link]
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skuirp skuirp skuirp (the sound of crickets.)
Oh No. |
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It's about as valid as any other cartel marketing a good of which there's no real shortage; in other words, not really valid at all, as it's bound to lead to tit-for-tat action, just as tariffs do now. (OPEC is a somewhat different case as it deals in a commodity with a finite - although still plentiful - resource.) |
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