Boone Pickes has a good idea

[dan_s]

Published in Forbes, written by T. Boone Pickens:

Nearly 40 years ago, OPEC nations met and brought America to her knees overnight. Long gasoline lines. Gasoline prices skyrocketed. Crippling economic conditions. Nearly two generations have passed since then. That translates to 185 million Americans – more than half of all Americans – who have never experienced that hardship or challenge. But those of us who did will never forget it.

My, how times have changed. OPEC nations – and a few others – gathered in Doha, Qatar, the other day to address the slide in oil prices that threaten their economic viability and their national security. Powerful gathering? Hardly. Laughable is more like it.

Led by the Saudi contingent, with their own resolution in hand, they met to approve a freeze on production at January levels. It would have been a meaningless gesture, but, still, the markets took note. Oil prices perked in advance of the confab in anticipation of “positive” news.

That gathering was as fractured as the Mid East itself. There was no agreement. It was a comical sideshow on the global energy stage that proves, yet again, just how irrelevant OPEC has become these days.

Read the full article at the link below
http://www.forbes.com/sites/tboonepicke ... 5137a763d3