Friday, February 8, 2013

A Conspiracy to Rob the World

OPEC made a trillion dollars in 2012
OPEC was created in order to raise world oil prices. Many conspiracies are only theories. This one is a fact. The OPEC nations do quite a bit of dissembling (to confuse the general public), but they act in the open and make no secret of their intentions. The oil ministers of the 12 OPEC nations meet at least twice a year to decide how much to limit their oil production in order to keep the world's price of oil high.

The result of high oil prices is the largest transfer of wealth in the history of the world — from the free world to some of the worst regimes on Earth (and the wealthiest rulers in history).

The only thing keeping this whole game going is an artificial limit on our cars. Internal combustion engines can burn ethanol, methanol and gasoline in any proportion with a minor tweak to the fuel delivery system. The Open Fuel Standard would make that tweak mandatory, and thus create a free market and break the monopoly.

There may have never been such a small change that could bring about so many significant benefits. 

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