The Threat of OPEC Acting Like a True Cartel
Robert J. Samuelson, Washington Post | March 13, 2008
Soaring oil prices are the result of underestimation of demand, overestimation of supply, depressed production outside OPEC, and the latter's recent regulation of supply. ++ OPEC's actions are preventing using oil prices to correct economic slowdown and the drop in purchasing power. ++ Without curbing imports and diversifying its sources of supply, the US
will not be free of the grip of this global oil cartel.
