Opec To Haul In $1 Trillion As Oil Prices Increase Risk Of Double-Dip Recession -- The TelegraphThe cartel of oil-producing countries will have $1 trillion (£600bn) in revenues for the first time this year, benefiting from high prices that may cause a "double-dip recession".
Forecasts from the US government show that the Organisation of Petroleum Exporting Countries (Opec), whose key members include Saudi Arabia and Iran, will collect a third more in revenues because prices have averaged $111 per barrel this year.
But Fatih Birol, chief economist of the International Energy Agency, said that the current price of $120 per barrel could be the catalyst for a global economic crisis on the scale of the one experienced in 2008.
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My Comment: Arab spring coupled with revolution in the Arab world. Iraq unstable. Iran unstable. Nigeria unstable. Venezuela unstable. With all of this turmoil and instability .... the money continues to roll in. It appears that in order for OPEC to continue to be successful .... instability and unrest is the way to go.
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