Philip Davis from SeekingAlpha, a view on OPEC

Perhaps there is not much we can do to stop the criminal cartel known as OPEC from withholding the supply of oil (they have cut production by 5M barrels a day globally in the past 18 months) or the US Energy cartel that has taken 32.4% of the US rigs off-line in the past 12 months - EVEN though oil prices are UP 100% over the same time period.

I’m sure, if called to testify before Congress, T. Boone and company will do some song and dance to pretend the economics of $80 oil justify 32.4% less drilling than $40 oil did last December rather than the very obvious fact that, by cutting off 32% of our supply, they were able to EXTORT us, to force us to pay through trickery and the pressure of withholding a vital commodity - an extra $40 per barrel.

See the full article here: Time to arrest the oil extortionists?