Comment Re:Weather Alert (Score 2) 509
Wiki sez, 'The Organization of the Petroleum Exporting Countries is a cartel of twelve developing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela."
So run the numbers again, in your list Nigeria, SA, and Venezuela are listed, combined they make up. . . 3.108 Million barrels a day, which is a fair site more than Canada and since OPEC sets its price collectively and have 79% of reserves so, sure, SA doesn't provide the majority of oil to the US but its two pals in the top five certainly provide more than Canada in a day. So, while you are right that SA doesn't set the price of oil per se, if OPEC embargoed the USA, 60% of the top five producers would be shunning the USA all of the sudden and I would imagine that your Canadian whipping boys couldn't make up the difference on short or even long notice.