International Oil Economy: OPEC Facing Much Competition
The good news continues for automobile drivers at the gas pump! Prices will stay and remain low for the foreseeable future. The cartel stated that 30 million barrels a day will remain the export rate although prices were still low with respect to a year ago.
“OPEC left it to member states to restrain any overproduction, an acknowledgment of the cartel’s inability to enforce its own limits as it struggles to control world supply and prices…. The international price of crude was down $1.62 at $62.10 after Friday’s announcement, having traded above $115 a barrel in 2014.”
The Organization of the Petroleum Exporting Countries (OPEC) is responsible for more than one-third of the world’s oil, and interestingly, its power to control the oil market has decreased since the advent of newcomers and outsiders. In fact, OPEC has quit demanding quotas, because its individual members had regularly ignored said “requirements.”
This has led to an overproduction of 1+ million barrels each day in the past few months …and the likelihood of overproduction continues.
“OPEC realizes … that it is now in a highly competitive market, in which its own members will compete against each other and collectively against non-OPEC producers, and in particular shale producers,” said John Hall of Alfa Energy in London.
Ultimately, it seems OPEC members and non-members alike are set on the continuation of overproduction. And what I understand about commerce is when supply is high, the cost of our oil and gas is low!
I wish could identify the exact reason for the abundance of production, and yet, I will not look a gift horse in the mouth. “Thank you to the oil god and goddess for this good fortune!”
Police: Man Gets Tasered, Pepper Sprayed, and Handcuffed After a Stroke While Driving
Before we even begin, I want to preface this story by being very clear that it is not my intention to sensationalize this story nor to perpetuate ill-feelings between communities. Rather, it’s my intention to increase the awareness to other police departments around our nation that they too need not kill people, especially when a situation is clearly unconventional and atypical, such as reported here.
Video shows an officer using a taser then pepper spray upon an unresponsive driver who just had an accident. In my opinion, from the mere fact that the drive was unalert AFTER an auto accident should have been enough of a sign to the officers not to shot him with either assault tactics.
They did anyway, only to learn he just had a stroke, which was the reason for his unresponsiveness, and of course, the reason for causing said accident.
“The incident occurred on May 4 about 5 p.m. after three officers responded to multiple calls for a hit-and-run and driver traveling in the wrong direction in the northbound lanes of Jefferson Davis Highway near the University of Mary Washington pedestrian bridge, the report says.”
“The driver of a Hyundai, David Washington, 34, had struck a Jeep, crossed the median and hit a street sign, the report says. The car eventually came to rest in the middle of an intersection.”
I’m grateful that the officer who tasered and pepper sprayed Washington took responsibility and resigned from the department 10 days following the incident. While the officer stated that he did not violate any policies, the “Police Department, however, decided that [his] use of force was not in line with department policies or training, the report says.”
As I previously highlighted, my intention for repeating this story was to continue to increase awareness of the unnecessary, and many times fatal, police brutality. Thank goodness they did not use lethal guns in this case, but that certainly does not make their overly aggressive and unwarranted actions okay.
I’m simply saying, “Stop shooting first and asking questions later.” Or dare I say: Do not shoot to kill. If you are using bullets rather than pellets (or other non-lethal ammunition), maybe consider shooting in the leg, for example — just some options in trying to stop the deaths.
I understand adrenaline is skyrocketing, and officers do not know if people are armed nor know suspects’ intentions; friendly or aggressive against the police. However, the numerous fatalities in recent months must be addressed and ceased, especially in incidents where people are unarmed …or are having a medical emergency.
Across this beautiful world, We Are All One.