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OPEC « Previous | |Next »
June 5, 2004

I know that OPEC is putting the price of oil up and we consumers in the West are paying heaps for our petrol these days. It was a $1.07 a litre in Adelaide today for unleaded petrol when we filled up early this morning to cruise down to Victor Harbor for the weekend. I reckon we consumers are being gouged by the oil companies. The era of cheap motoring is well and truely gone.

I know, from reading the financial press, that the reasons given for the high petrol prices are terrorist threats to foreign workers in Saudi Arabia, China's booming economy and American demand.

I do have a little grasp of the history of Saudi Arabia. After the 1930s, when the discovery of oil thrust the insular Saudi state into an uncomfortable but lucrative proximity with a Western world, the US claimed in 1943 that Saudi Arabia was vital for the defence of the USA. On the other hand, many members of Saudi Arabia regard the US with a complex mixture of admiration, suspicion and loathing.

But I struggle to make sense of this cartoon:

CartoonStavro4VH.jpg
Stavro

Anybody the wiser? Can anyone interpret this? All interpretations welcome.

| Posted by Gary Sauer-Thompson at 7:53 PM | | Comments (0)
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