John W. Rich, Jr: OPEC Decision to Cut Production Amounts to 'Economic Terrorism' Against Global Economy

 

Last update: 2:52 p.m. EDT Oct. 24, 2008

GILBERTON, Pa., Oct 24, 2008 /PRNewswire-USNewswire via COMTEX/ -- Leader in Coal to Liquid Effort Says OPEC Leaders Are Wrong
In response to the announcement from OPEC that oil producing companies will cut oil production to force oil prices to remain high, John. W Rich, Jr., President of WMPI PTY., LLC, issued the following statement:
"OPEC's decision to cut oil production amounts to economic terrorism against the United States and the global economy. Their intent is to subjugate U.S. consumers by keeping oil and gasoline prices high while the U.S. economy continues to struggle. This decision, made by the same folks who were enjoying astronomical profits when crude oil reached $147 per barrel earlier this year, underscores the need to develop a domestic energy economy that produces liquid fuels from sources other than the foreign oil produced and manipulated by OPEC. America is dangerously dependent on OPEC and other foreign offshore suppliers and we are seeing today the power they wield and their willingness to use it against us."
John W. Rich, Jr. has been a leader in the energy sector for decades and he is the President of WMPI PTY, LLC in Gilberton, PA. For over a decade his company has been leading the drive to build a coal to liquid fuels industry in the United States. Rich is proposing utilizing new technology for the gasification of existing waste coal intermingled with traditional biomass feedstock to produce an abundant supply of domestic liquid transportation fuels that will displace the foreign oil we are importing at the rate of $1 billion per day. To learn more about John Rich's plan to produce liquid fuels from coal and to end the United States reliance on foreign oil, visit http://www.ultracleanfuels.com/.
SOURCE UltraCleanFuels
http://www.ultracleanfuels.com/

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