Oil Brat here
Renegotiation is planned.... yes China and India are growing customers but the US is still the largest account of OPEC.
This is just big global business.
Alaskan drilling is poised & ready (yes that is the uber agenda) My Dad just got back from Alaska & will be going back after his trip to Brazil.
Future contracts are being considered with Brazil.
I happen to think the formation of UNASUR is far more significant.
If anyone is that concerned about fuel then they should consider biofuels, ethanol, and methanol....\http://journeytoforever.org/