Hastening OPEC's demise

Journal Article · Fri Nov 05 04:00:00 EST 1982 · Am. Jew. Comm. Energy Inf. Serv.; (United States)

OSTI ID:6605385

Goldmuntz, L

Despite progress in securing oil supplies and lowering prices, oil prices will remain above their market value until the OPEC countries are forced to lower their production enough (about 20%) to dissolve the cartel's power. Oil-importing countries have paid OPEC an excess of about one trillion dollars in the past decade, and have acceded to the appeasement of recycled petrodollars. Hastening OPEC's demise will require cooperative private and government initiatives to accelerate the use of domestic resources and encourage production in non-OPEC areas with financial support, reform of US overseas investment policies, and bilateral purchase agreements. A tariff on imported oil and oil products would encourage conservation and fuel switching. (DCK)

• Research Organization: Economics and Science Planning, Inc., Washington, DC
• OSTI ID: 6605385
• Journal Information: Am. Jew. Comm. Energy Inf. Serv.; (United States), Journal Name: Am. Jew. Comm. Energy Inf. Serv.; (United States) Vol. 4:5; ISSN ACESD
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002* -- Energy Planning & Policy-- Petroleum
COOPERATION
ENERGY SOURCE DEVELOPMENT
INTERNATIONAL COOPERATION
INTERNATIONAL ORGANIZATIONS
MARKET
OIL-EXPORTING COUNTRIES
OIL-IMPORTING COUNTRIES
OPEC
PRICES