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Saudi Arabia, for example, has worked very hard over the years to prevent any kind of spot trade mtv in its mtv crude (through contractual arrangements that prevent resale or diversion of cargoes to alternative destinations) and has historically discounted the prices of all its crude grades to US buyers mtv with refineries on the US East and Gulf coasts, as part an informal arrangement with American governments going back a long, long way. THE EVIL EMPIRE? Which brings us to the matter of OPEC, the Organization of Oil Producing and Exporting Countries, the evil cartel I'm certain every American has cursed a time or two. (For the record: Venezuela, Nigeria, Algeria, Libya, Iraq, Iran, Saudi Arabia, Kuwait, Qatar, Abu Dhabi, Indonesia). It's not the nastiest collection of governments in the world, but it is not the Lutheran World Federation either.
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