Is OPEC To Blame?

Adam Hewison, president of and co-creator of MarketClub goes head to head with attorney and Wall Street Journal analyst

Who is to blame for the price of crude oil...
is it the consumers or OPEC?

Excerpt from show...

Hewison: "Well let me say this, it's absolutely not OPEC's fault. I can sum this up in three words, it's demand, demand, demand. Demand from China, demand from India, and demand from the United States. We use 21 million barrels of oil everyday in this country. Half of it goes into consumer's tanks and the only way we are going to ween ourself off is probably get higher gas prices in our cards and higher millage on our cars."

Regan: "Well we've got high gas prices, I mean we've seen it... and it doesn't really have the impact you'd think."

Hewison: "No, because people have to get to work, they have to go to work. Your going to pay whatever it takes you to get to work, you're going to pay what's at the pump."

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2 thoughts on “Is OPEC To Blame?

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