an exponential growth in Price of a barrel of Light Crude oil..
OPEC has seldom been effective at controlling prices. While often referred to as a cartel, OPEC does not satisfy the definition. One of the primary requirements is a mechanism to enforce member quotas. The old joke went something like this. What is the difference between OPEC and the Texas Railroad Commission? OPEC doesn't have any Texas Rangers! The only enforcement mechanism that has ever existed in OPEC was Saudi spare capacity.
As crude resources depleting in the world, and Mid eastern countries continue with Chaotic nature what will happen to supply of Crude Oil(CO)... This calls for greater need of alternative energy resources... As the CO demand increases today will the equilibrium price of CO continue to go up? I leave you today with these questions...
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