Nov 17
“In the forty year history of OPEC there has never been the case of the Secretary of Energy calling OPEC in the middle of an OPEC meeting … We are upset and disappointed at external pressure. We don’t like it”
To his everlasting credit, this was the comment elicited from the OPEC cartel to then U.S. Energy Secretary Bill Richardson in response to the calls he made in his attempt to remind OPEC of its responsibility to the world’s economy and not simply to maximizing its extortionist pricing policies.
President Obama’s current and retiring Energy Secretary Stephen Chu stands in sharp contrast, setting forth his parameters by being quoted early in his tenure:
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