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OPEC, the Phantom Menace

Posted on 17 June 2014

From the Keystone pipeline to Ukraine to fracking and American self-sufficiency, Washington is abuzz about energy politics these days, but top U.S. policymakers continue to make mistakes when thinking about world energy markets.
For example, James Woolsey, a former director of the CIA and self-proclaimed energy hawk, argues that the Organization of the Petroleum Exporting Countries (OPEC) has a grip on global oil and gasoline prices so tight that the United States will never be free of its influence. Like most people, Woolsey wrongly believes that OPEC is a powerful cartel………………………………………..Full Article: Source


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