The death of OPEC, suggests MSN Money

Douglas McIntyre, is an editor at 24/7 Wall St. and had an interesting observation on MSN’s Money page today.

Saudi Arabia left OPEC’s meeting and stated ‘we will continue to supply oil’. Unlike leaders of Venezuela and Iran, who must stand on ceremony and bash the West at every turn, the Saudis are throwing their weight as a business-friendly country rather than a terrorist nation.

The Saudis got a black eye 7 years ago when it was revealed that most of the 9/11 hijackers were from the kingdom and have worked to crack down on home-grown radicals ever since.

A stand by the Saudis may not take down OPEC in a single blow, but certainly, this does not bode well for the future of the cartel.

The death of OPEC – MSN Money
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