NEWS FLASH

OPEC’s 2011 Oil Haul: One Trillion Dollars | “Organization of Petroleum Exporting Countries members are poised to earn an unprecedented $1 trillion this year, according to the U.S. Energy Department, as the group’s benchmark oil measure exceeded $100 a barrel for the longest period ever,” Bloomberg reports. Spurred by the Arab Spring, OPEC governments are pouring the revenues into social spending, expecting the price of oil to stay above $80 a barrel.