|
When OPEC feels a threat to their dominance they can lower prices to the point necessary to remove the threat.
They have done this before. There is no reason they could not do so again.
The purpose of a Cartel is to control prices, and this works not only in keeping prices high but in keeping profits, for others, low.
Only an import tax would lead North America to oil independence, but that is subject beyond just increased production.
|