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Politics : War -- Ignore unavailable to you. Want to Upgrade?

To: Elmer Flugum who wrote (8316)	11/9/2001 5:27:35 PM
From: goldsnow	Respond to of 23908

Twenty five years later, in the worst oil glut for a decade, it is OPEC that is feeling the backlash of the first oil shock. This year's severe glut is only the latest in a series caused by persistent oil market overcapacity, partly a consequence of the 1973 embargo. Sheikh Zaki Yamani, the mastermind behind Saudi oil policy at the time, admits mistakes were made. "I think we were intoxicated in the seventies and some major consumers helped us dig our grave," the former Saudi oil minister told a recent conference in London metimes.com