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I wonder if we'll end up joining OPEC? Could there actually be advantages in that?
by tocomment 14y ago
I wonder if we'll end up joining OPEC? Could there actually be advantages in that?
- taumeson 14y agoWow, I wonder if they'd accept us.
- simulate 14y agoOPEC is a cartel intended to maintain a high price for oil. The US has been the second or third largest oil producer for decades, well ahead of all other OPEC countries except Saudi Arabia. See: http://www.eia.gov/energyexplained/index.cfm?page=oil_where http://www.eia.gov/energyexplained/index.cfm?page=oil_where In addition to being one of the largest oil producers for decades, it has also been the largest oil consumer. Therefore it has not been in the US's interest to join OPEC. The US would prefer lower oil prices. There's no reason to expect this will change if the US moves from number 2 or 3 producer to number 1.