Tuesday, May 27, 2008

OPEC Chief Blames Speculators

It seems that even the OPEC secretary-general is coming down on speculators.

Abdalla Salem El-Badri said speculation and the weak dollar are responsible for record crude prices — which topped US$135 (€85.70) a barrel on Thursday, up nearly 4 percent from US$130 (€82.50) on Tuesday.

"We are not very happy with the rise in oil prices... it has nothing to do with OPEC," El-Badri told reporters during a visit to Ecuador.

That guy has a cool Dungeons & Dragons name as well. My PC would be nicknamed Abdalla the Bald and would probably be a mage wearing a multihued Keffiyah and black robes.

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