Opec Is IN ControlI picked up a pile of shares this morning, with the pullback they were a gift. Added 50% to my position.
The energy prices are up, and Opec is in control.
Why should Opec lower energy prices while goverments develop Carbon Tax strategies that just keep making energy more expensive and add to the inflation risks of our economy?
The goverment would like OPEC to provide cheap energy, so they can tax it and subsudize their green energy initiatives. Great plan as long as OPEC plays along.
Opec needs to take the position, that goverments will signal them when the price of energy has reached the point where it is having a negative impact on the economy. When the goverments themselves start rolling back their fuel taxes and carbon taxes, thats when OPEC should consider providing relief to the markets.
IMHO