OPEC’s Dilemma

The dilemma, whether OPEC members acknowledge it or not, is that OPEC must increase capacity and lower prices or face the permanent loss of a substantial portion of oil’s market share in the energy market. In the intermediate term the also risk losing market share within the petroleum segment of the energy market. In the last issue in this series we began the first of several articles addressing “Peak Oil.” Today’s article qualifies as a peak oil article but its focus is politics and economics rather than the geologic and technical factors that will eventually lead to a peak in production. One might call it a discussion of peak oil consumption.

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