opec meeting Just this morning, the Financial Times Javier Blas explained how OPEC has managed to stay apolitical, while wars have ravaged the region in the past. He said that there exists a hawkish-dovish paradigm within the organization, with Saudi Arabia wanting to pump more to keep the global economy flowing, and Iran and Venezuela wanting higher prices, to support government spending programs. Today, those sides did not come to their typical agreement somewhere in between. The reason why may be because one member state has shifted from being concerned about making the right technical decision, to making the right political decision.
Read more: -what-just-happened-at-the-opec-meeting-2011-6#ixzz1OlV3N1nh nstitutional authority and got Mr.Ahamdinejad’s self appointment declared unconstitutional.
Mr. A then, in a manner usually reserved to fill U.S. Senate vacancies in Illinois, picked the head of Iran’s “Olympic Committee” as new oil minister. We suspect that the Supreme Ayatollah and his allies don’t want Mr. A trying out for “Iranian Idol” when there are so many critical things going on. Do they have an O.K. Corral in Teheran? Stay tuned. Iran is Saudi Arabia's regional rival. Earlier this year, the two battled over Bahrain, a member of the Gulf Cooperation Council that sought Saudi military aid to end its revolt. Bahrain has a significant Shia population, which is the national religion of Iran. Saudi Arabia, and the rest of the gulf states, are mostly Sunni. Saudi Arabia is also trying to come to grips with a revolution in its neighbor, Yemen and its allies like Qatar and the UAE have also supported the revolution in Libya, a U.S. backed operation.
Read more: http://www.businessinsider.com/heres-what-just-happened-at-the-opec-meeting-2011-6#ixzz1OlV4fnLU
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