Down with OPEC
By Tom Haughey
A couple weeks ago I went onto an airline's web site to learn the current price of a round trip ticket to London. I then explored some venues around the city to determine when they opened to visitors. By the end of the week I knew when I wanted to fly and went back on line to buy my tickets. To my horror I found prices had gone up over $700 in the intervening six days. I was forced to postpone the trip. What, I wondered, could have caused such a radical increase so quickly? The answer? OPEC. The Organization of Petroleum Exporting Countries had held a meeting and had finally voted to cut production to decrease the world supply of oil. As a result, even before they'd implemented the plan, the price of a barrel of oil had increased from the mid $40s to the mid $50s.
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