Abstract
This paper evaluates the future of OPEC (Organization of Petroleum Exporting Countries) as an export cartel. The author indicates the significance of OPEC as a price setting export cartel. The paper discusses the importance of OPEC to non-oil producing countries.

From the Paper
"The purpose of this paper is to assess the likelihood that the Organization of Petroleum Exporting Countries OPEC will be able to function efficiently as a cartel in the future."

Tags:Cartel, OPEC

Abstract
The Organization of Petroleum Exporting Countries (OPEC) was founded in 1960 as an intergovernmental organization with five oil producing and exporting member states. The essay examines the states' reasons for forming the organization and the common interests that directed the organizations policies. The political structure is also discussed, stressing the shifts in power from one member state to the next. Important policy changes through to the present have led to the strength of the organization as an oil cartel, because production levels and sales quotas are monitored closely and distributed equally among the member states.

From the Paper
"The five founding members of OPEC, therefore, found themselves in a classical dependency relationship with the powerful multinational oil companies that held a virtual stranglehold on the crude oil resources in the five countries. The catalyst for the five countries to form OPEC was a decision by the seven multinational oil companies in 1960 to lower the so-called posted price for crude oil. The posted price was the price that each of the seven oil companies would pay the host nations for the crude oil extracted from their resources. The five nations had no say in establishing this price. In effect, the "Seven Sisters" themselves acted as a cartel. By establishing their own cartel, the founding five OPEC nations were demonstrating their resolve to gain control over their own crude oil resource."

Tags:middle, east, foreign, policy, economics, international, affairs

Abstract
The paper discusses the creation of the Organization of Petroleum Exporting Countries (OPEC) that was formed in the 1960s due to the fear by its member states that an oil surplus would over-saturate the market and cause producers to square off against one another in pricing. The paper looks at how in the immediate future, the OPEC faces a number of considerations with regard to its pricing approach. The paper discusses how war and recession have lowered consumer demands and stifled the Arab supply of oil, but the OPEC has refused to lower prices and increase the supply of oil. The paper points out that this exorbitant pricing of oil may only invoke greater competition against the OPEC and will not serve their best interests in the long run. The paper clearly shows how with decreased oil demand, the OPEC would do well to increase supply and drop its prices, thus allowing it to regain its stature in the market.

From the Paper
"The distinction between these rankings in terms of production and those rankings relating to the export of crude oil reveal a great deal about certain energy consumption tendencies. Indeed as with production, Saudi Arabia here occupies the top spot, exporting 8,038,000 barrels a day in 2007. Likewise, Russia exports 7,054,000 barrels a day, making second in the world. At a distant third though is the United Arab Emirates (UAE), which like Saudi Arabia is a member of OPEC, at 2,507,000 barrels exported a day. It is compelling to note that the United States does not even appear on the list of top 15 exporters in spite of the fact that it is the third largest oil producer in the world. This provides a telling picture of the nation which is by more than twice the next nation--China at 7,565,000 barrels a day--the largest consumer of the global petroleum supply. The United States consumed, as of 2007, 20,680,000 barrels of crude per day, meaning that in spite of its ranking as third largest world producers, it is also by far the world's largest importer of petroleum. This amounts to 12,224,000 per day and is three times as much as Japan's second place import ranking. (EIA, 1) To this point, we can see that the United States, historically itself a prime engine for the global economy, in many ways drives and dominates various aspects of the world's petroleum market."

Tags:exports, petroleum, barrrels, recession, war, downturn

Abstract
The paper reveals that the Organization of Petroleum Exporting Countries (OPEC) is one of the most, if not the most, powerful energy cartels in existence. The paper discusses how while traditionally associated with countries of the Middle East, led by Saudi Arabia and other GCC member states, OPEC also has admitted other member states from outside the gulf region, such as Venezuela.

From the Paper
"The Organization of Petroleum Exporting Countries (OPEC) is one of the most, if not the most, powerful energy cartels in existence. While traditionally associated with countries of the Middle East, led by Saudi Arabia and other GCC member states, OPEC also has admitted other member states from outside the gulf region, such as Venezuela (Najem & Hetherington). Additionally, other trade related organizations such as UNCTAD or the United Nations Conference on Trade and Development exert substantial influence across the globe but could do much more if they..."

Tags:nafta, opec, unctad

Abstract
This paper discusses and analyzes the topic of the Organization of Petroleum Exporting Countries (OPEC). Specifically, it examines how the United States deals with OPEC and oil prices. The paper also explores how the United States has failed to create a viable energy policy that will allow the country not to depend on OPEC's control of the oil market. The paper contends that the United States heavily depends on oil from the OPEC nations, which is one reason that the country's oil prices have risen so dramatically in the past year or so.

From the Paper
"OPEC was formed in 1960 by the oil-producing countries primarily in the Middle East as a reaction to fluctuating oil prices by oil manufacturers, which were predominantly owned and operated by American and British firms. The first group of nations to initiate and form the consortium were Venezuela, Saudi Arabia, Kuwait, Iraq and Iran (Reuda). Forming OPEC was a reaction to foreign oil interests, and they felt they would have more control over the development and management of their own oil reserves. As time went on, membership grew to include Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. However, Ecuador and Gabon suspended their memberships; Ecuador in 1992 and Gabon in 1994. Headquartered in Vienna, Austria, the group has historically been dominated by Saudi Arabia, because it has the largest oil reserves of any of the member nations. OPEC has dominated world oil prices almost since its inception, and has caused inflation in oil-importing countries like the United States."

Tags:fuel, oil, middle, east, monopoly

From the Paper
"OPEC was created at the Baghdad Conference of September 10-14, 1960. The five founding members were Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. OPEC was formed in response to the over production of oil in the late 1950's which in turn caused the price of oil to drop drastically (Encarta). The objective of OPEC as stated by the member countries is "to co-ordinate and unify petroleum polices among member countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry (OPEC 1)."

Tags:countries, exporting, organization, petroleum, oil, arab, opec

From the Paper
"OPEC: The Organization of Petroleum Exporting Countries (OPEC) was founded in 1960 as an intergovernmental organization with five member states. Membership in the organization was and remains voluntary, in that a member state may leave the organization at any time. Joining the organization, however, requires the approval of other member states. In early 2000, OPEC has 11 member states.

The essential purpose of the organization has not changed since it was founded. That purpose is to (1) unify and co-ordinates the petroleum policies of the member states, and (2) safeguard the general interests of the member states.
Knowledge of the enduring purpose of the organization does not address the underlying issue of why the five original member states of OPEC .."

Abstract
The effectiveness of the Organization of Petroleum Exporting Countries (OPEC) as an oil cartel is subjected to critical analysis and assessment during the period of 1973-1999. Issues addressed in this analysis and assessment include the identification and assessment of the political factors that influenced the determination of the (1) political dynamics of the organization, (2) the economic dynamics of OPEC, (3) the international role of the organization, and (4) structural changes in OPEC, with consideration for (a) why and how these changes occurred, (b) the effects of these changes on OPEC?s functioning as a cartel, and (c) the source, internal or international, of these changes.

Introduction
OPEC: Formation, Purpose, Objectives, and Policies
Effects of OPEC Policies in the 1970s and 1980s
Crucial Factors Affecting Decisions by OPEC Member States to Disregard OPEC Production and Price Stabilization Policies
Actions by Non-OPEC Oil Exporters
Discovery of New Energy Reserves
Assessment of OPEC?s Effectiveness OPEC As An International Regime
Summary and Conclusion

From the Paper
"In its first dozen years, OPEC concentrated on gaining control by its member states of their petroleum resources from the multinational oil companies. As this goal was pursued, crude oil prices were raised gradually and at moderate levels. In 1973, however, OPEC imposed its first crude oil boycott, one result of which was a tripling of crude oil prices from 1970 price levels. Following this show of power, crude oil price increases again slowed for several years. Then, in 1979, OPEC instigated a second crude oil price/supply crisis, which resulted in, among other things, a doubling of crude oil prices from 1974 levels."

Tags:natural, resources, crude, oil, economics

Abstract
This paper describes how U.S. foreign policy has developed as the result of American efforts to influence the price and supply of oil in OPEC countries. Also examined are the impact of variations in the supply and price of oil on the U.S. economy, the 1970 oil crisis, the impact of the Persian Gulf War, and the current unrest in the Middle East in this context. A summary of the research is presented in the conclusion.

Outline
Major Players and Events Influencing U.S. Foreign Policy
Overview of Issues Related to Economic Sanctions
Overview of the Persian Gulf
Impact of the Persian Gulf War of U.S. Foreign Policy
U.S. Foreign Policy and the Strategic Petroleum Reserve

From the Paper
"Since the 1973 OPEC oil embargo, U.S. dependence on oil imports has risen to record levels, from 28 percent in 1973 to 48 percent in 1997 ("The 1973 Oil Embargo: What Have We Learned In the Last 25 Years?," n. pag.). Through 1972, Americans had become accustomed to expanding energy consumption with minimal concerns about the constancy of supply or sharp price escalations. In 1973, however, expectations about energy supply changed dramatically. The turmoil started early in 1973, as customers experienced the first symptoms of something being wrong with electricity brown outs and rapidly rising prices for fuels and other necessities. Price controls and allocation systems not only failed to resolve these problems, they seemed to aggravate them. Most memorably, October brought an oil embargo by members of the Organization of Arab Petroleum Exporting Countries, cutting further into the supply of oil and elevating prices to levels previously thought impossible. Customers experienced lines and sometimes no fuel at gasoline stations. A year of bad news was punctuated in December, when the President announced that because of the energy crisis the lights on the national Christmas tree would not be turned on. Throughout the year, energy stayed at the forefront of public attention. Interruptions in energy supplies were also closely related to other issues of national importance-a weakening of the economy and a reassessment of America's strategic position in the world. From 1973 to the mid-1980's, prices continued at very high levels, in part because of a second oil shock in 1979-80. During this period, rapid progress was made in raising American oil production, reducing dependence on oil imports, and improving end-use efficiency. After the oil price collapse of the mid-1980's, however, prices retreated to more moderate levels, the pace of efficiency gains slowed, American oil production fell, and the share of imports rose. Other, more violent events in the Middle East, however, would soon create a new political situation in which the U.S. was to be forced to create foreign policy directly as a result of America's need for oil."

Tags:countries, economic, exporting, foreign, oil, organization, petroleum, policy, reserve, sanctions, strategic, venezuela

Abstract
This paper examines the Organization of Petroleum Exporting Countries's (OPEC) block on the flow of oil to the U.S. and other Western nations in 1973 and the United States' response to this crisis. The paper briefly looks at the 1967 crisis that led up to the 1973 embargo and then argues that U.S. leaders seemed to misjudge the seriousness of the Arab states in their punishment of Western nations for their support of Israel. The paper also notes the 1979 OPEC disruption of oil imports and highlights the international trade implications of the oil embargo of 1973.

Outline:
Introduction
1967 Oil Embargo
1973 Oil Embargo
1979 Oil Embargo
U.S. Trade Deficit - Oil Imports - International Trade Relationships

From the Paper
"The Six-Day War between Israel and Arab countries (Egypt, Syria, and Jordan) (June 6, 1967) was only one day old when several Middle Eastern countries got together and decided to limit their oil shipments to the U.S. and the UK. The reason was in response to the U.S. support for Israel (military hardware, technology and ammunition) in that war. And according to the communique issued by the countries participating, Arab oil shipments were to be denied to any nation involved "...directly or indirectly in armed aggression against Arab states" (http://history.state.gov.). In addition, the communique sternly promised to target assets of "companies and its nationals" inside Arab countries."

Tags:Arabs, petroleum, imports, exports, production