Indonesia Pulls Out of OPECSubmitted by lastmovement on Thu, 05/29/2008 - 21:49
One of many to come.
"Indonesian energy minister said Wednesday that his country is pulling out of OPEC, because it is no longer a net oil exporter. Purnomo Yusgiantoro told reporters it did not make sense for his oil-producing nation to be a member of the Organization of Petroleum Exporting Countries at a time when domestic reserves were drying up and consumption increasing. "We are pulling out of OPEC,'' he said."I will sign the papers today.''