Quotes About OPEC

If you look - look at - I mean, look at what's going on with your gasoline prices. They're going to go to $5, $6, $7 and we don't have anybody in Washington that calls OPEC and says, 'Fellas, it's time. It's over. You're not going to do it anymore.'

Instead of begging OPEC to drop its oil prices, lets use American leadership and ingenuity to solve our own energy problems.

The use of oil as the medium of exchange for the Al Yamamah contracts made bribes easier to hide, allowed Saudi Arabia to bypass OPEC's restrictive quota guidelines and enabled the Saudi Ministry of Defence to continue to purchase weapons with no scrutiny.

The anti-American policy is the one that keeps oil prices up. The way to do that is to help OPEC limit the amount of liquid fuel available.

I don't see why OPEC countries should continue to cut production just to keep the price of oil high. This will not affect the industrial countries alone, it will also hit poor countries in Africa, Asia and Latin America. Who will look after them?

If you look - look at - I mean, look at what's going on with your gasoline prices. They're going to go to $5 $6, $7 and we don't have anybody in Washington that calls OPEC and says, 'Fellas, it's time. It's over. You're not going to do it anymore.'

I think, for OPEC, the main challenge is to have a price level which brings good profits to them, good incentives for the investments, but at the same time, to prevent prices going to very high levels.

Another casualty of Feisal's return to power was Abdullah Tariki, the general director of petroleum and mineral resources. Tariki is a well-known figure in global oil politics, mostly because in 1960 he cofounded, along with Venezuelan oil minister Juan Perez Alfonso, the Organization of Petroleum Exporting Countries, better known as the OPEC cartel.

A political party without a higher purpose is nothing more than a cartel, a syndicate. No one asks what is the greater good OPEC is trying to achieve. Its purpose is to sell oil at the highest prices possible. So it is with today's Republican Party. It is a cartel that exists to elect Republicans. There is no organized, coherent purpose other than the acquisition and maintenance of power.

Saudi Arabia is, of course, the keystone of OPEC. Saudi Arabia has had the distinction of remaining stable through all the escalating tumult of recent decades, reliably pumping out its roughly 10 million barrels a day like Bossy the cow in America's oil import barn.

If the Administration does nothing, high gasoline prices will continue to increasingly burden our economy, taking millions of dollars out of the hands of families and putting it straight into the pockets of OPEC.

As the cost of gasoline rises and our dependence on foreign oil continues to increase, the effect of sending over $100 billion each year to OPEC nations hurts every American.

There is no free market for oil. It's controlled by a cartel, OPEC.

Canada supplied, in 2019, about 50 percent of total U.S. oil imports, a volume three times greater than all the oil the United States imported from OPEC countries

These acts recall the 1971–72 "Chicken War" between America and Europe, and the grain embargo that quadrupled wheat prices outside of the United States. It was this embargo that inspired OPEC to enact matching increases in oil prices to maintain terms-of-trade parity between oil and foodstuffs. The "oil shock" was simply a reverberation of the U.S. grain shock.

Instead of begging OPEC to drop its oil prices, let's use American leadership and ingenuity to solve our own energy problems.