Ivar Fylling

The End of OPEC

With respect to oil price control, I see no reason for the OPEC not to share the fate of the Texas Railroad commission. Both were assigned with a task of keeping the production down and prices up. No organisation seems to be needed for that anymore, in the US since 1971, globally since ca 2005. Indonesia, the largest OPEC nation, has been a net importer since 2003, and that is not due to quota-problems!