BNN Go Commodities Wed, Nov 26, 2014 - 11:30 AM The Organization of the Petroleum Exporting Countries is a cartel in perception only, says one U.S. professor who has studied the inner workings of the group and their alleged influence on the global oil market . According to his studies, the group is a price taker, not a price maker, and cheat on their output quotas whenever possible. A look at why OPEC's influence on the oil market is primarily illusory, with Jeff Colgan, assistant professor of Political Science and International Studies at Brown University.
CBC News November 27, 2014 by Peter Armstrong OPEC ministers meet in Vienna today, but many wonder what influence the cartel still has
In the opening scene of the 1990 film Miller's Crossing, a crime boss laments, "It's getting so a businessman can't expect no return from a fixed fight."
The woes of prohibition-era mobsters may be a long way from those of OPEC ministers meeting in Vienna, but they aren't entirely different either. The quote is all about diminished power, something OPEC knows all about.
The Watson Institute's Political Economy Forum held a panel discussion on December 1, 2014. A panel featuring Robert Kuttner, Co-founder and co-editor,The American Prospect Peter Gourevitch, Distinguished Emeritus Professor, University of California, San Diego and Watson Institute Senior Fellow in International Studies Sigrid Quack, Max Planck Institute for the Study of Societies, Cologne and Watson Institute Senior Fellow in International Studies Mark Blyth, Watson Institute Faculty Fellow and Professor of International Political Economy, Brown University