Brown pushes for OPEC output


Brown pushes for OPEC output

Wapakoneta Daily News – With gasoline prices in Wapakoneta and Ohio jumping as much as 25 cents on Wednesday, one U.S. senator from Ohio decided the time has come to push the Obama administration to act. Democratic U.S. Sen. Sherrod Brown wrote a letter to U.S. Secretary of State Hillary Clinton calling for her and President Barack Obama to push the Organization for Petroleum Exporting Countries (OPEC) to increase production levels.

“The last few weeks we know too well what has happened to gasoline prices and we know it is a boom for big oil companies and cartels and for speculators, but it is a bust for small business owners, truckers, motorists and anybody who depends on gasoline to get to work,” Brown said during a media teleconference Wednesday. “We know what supply and demand does, but we know this isn’t exactly supply and demand.”

He said oil companies and speculators have pushed the price of a barrel of crude oil to a high of nearly $120 in the past week from approximately $80 per barrel because of unrest in Egypt and Libya.

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