U. S. May Join Opec. 1/4 Of World’s Untapped Oil Reserves In Artic.
Recent exploration of sediment deep beneath the Artic Ocean has led geologists to estimate that approximately 1/4 of the worlds untapped oil and gas reserves are located there. After evaluating the impact of the news, the U. S. may seek membership in OPEC.
President Bush, smiling and joking with King Abdullah of Saudi Arabia at a press briefing in Nome, Alaska, stated, Since it looks like weve got about as much oil off Alaska as our good friend the King here has in the Saudi desert, it seems like a pretty good idea for America to consider membership in OPEC. The least you can say is, maybe then well have more influence on prices at the pump.
King Abdullah, who flew in to tour the newly oil-rich region with President Bush and Vice President Cheney, commented, Until now, I thought a country had to have a lot of sand to have oil. Now, I see it can also have a lot of snow. If America wants to join OPEC, we will be very happy to consider the application. But, of course, we only have one vote.
Reaction across the Middle East was not unmixed, even in Saudi Arabia. A member of the...
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