The military operation in Iraq cannot be sustained and is a threat to the stability of oil-producing nations.
The following list shows significant oil-producing nations and their peak oil production years.
In that case, other oil-producing nations might have little choice but to go along for what could be, at least briefly, a wild ride.
That feeling is widely shared by officials of other oil-producing nations.
Gasoline in this major oil-producing nation is, of course, extremely cheap, and you can hire a car for $10 a day.
The principal response from the Clinton administration has been to try to persuade the oil-producing nations to reverse course.
The broader question is how long oil-producing nations will hang together.
As in many oil-producing nations, the booming 1970's created expectations of prosperity.
In the near term, we will continue to encourage oil-producing nations to maximize their production.
Venezuela's push to increase control over its oil industry has been followed by similar efforts in other oil-producing nations.
