What the hell does that even mean? The USA aren't even part of the OPEC^1^, how are they supposed to be in the "OPEC monopoly"? Or do you mean Venezuela with America? And why monopoly? OPEC/ OPEC+ are only responsible for 30-40%^2^ of crude production, that is a weird monopoly.

^1^ https://www.opec.org/opec_web/en/about_us/25.htm

The Organization of the Petroleum Exporting Countries (OPEC) was founded in Baghdad, Iraq, with the signing of an agreement in September 1960 by five countries namely Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. They were to become the Founder Members of the Organization.

These countries were later joined by Qatar (1961), Indonesia (1962), Libya (1962), the United Arab Emirates (1967), Algeria (1969), Nigeria (1971), Ecuador (1973), Gabon (1975), Angola (2007), Equatorial Guinea (2017) and Congo (2018).

^2^ https://www.bbc.com/news/business-61188579

...Together, Opec+ countries produce about 40% of all the world's crude oil.

[–] geneva_convenience@lemmy.ml 1 points 8 months ago* (last edited 8 months ago) (2 children)

America controls Saudi, Kuwait, Iraq and Venezuela. Only Iran falls outside and if they start doing naughty things they are going to get invaded.

America is the largest oil producer in the entire world

https://en.wikipedia.org/wiki/List_of_countries_by_oil_production

Country Oil production September 2023 (bbl/day)

United States 12,900,000[8]

Russia 9,480,000[9]

Saudi Arabia (OPEC) 9,060,000[9]

Canada 4,778,973[10]

[–] spamspeicher@feddit.de 0 points 8 months ago* (last edited 8 months ago)

America is the largest oil producer in the entire world

So, still no monopoly. Even IF we counted OPEC as "American OPEC monopoly" they together would only account for 50-60% of crude oil production. Far away from a monopoly, maybe you should read up on the term monopoly.

America controls ...

And even then, OPEC most of the time acts against US interests. Crazy how big the "control" and influence the US has over these countries and OPEC then. They have so much control that even Russia is part of OPEC+ since 2016. AMERICA STRONK!

[–] 0xD@infosec.pub 0 points 8 months ago (1 children)

Ah, yes. America with its magic wand controlling everything and everyone! Just yesterday evening Biden made me snort three lines of coke.

[–] geneva_convenience@lemmy.ml 1 points 8 months ago* (last edited 8 months ago)

Yes they kill governments that try to nationalize their oil which could drive down prices. Gadaffi in Libya is a great recent example.

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