142_5_OPEC_ProjectExample

142_5_OPEC_ProjectExample - February 7, 2011 OIL,...

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OIL, O rganization of P etroleum E xporting C ountries, and A lternatives? February 7, 2011 EEP 142
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Example of Project for EEP 142 Brief background OPEC v. CIPEC why OPEC works Why CIPEC did not OPEC in Action Alternatives to OPEC Conclusion
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OPEC - A Successful Cartel A cartel is defined as successful if it is able to raise the market price at least three times the marginal production cost of the member with the highest production cost. - in Perloff & Carlton
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OPEC The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela
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OPEC "OPEC's objective is to co-ordinate and unify petroleum policies 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.org OPEC Press Conference in Vienna
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History OPEC OPEC was founded in Baghdad in response to a 1960 law instituted by American President Dwight Eisenhower The law forced quotas on Venezuelan and Persian Gulf oil imports, preferring the Canadian and Mexican oil industries Asserts its member countries’ rights in global oil market dominated by others
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This note was uploaded on 09/11/2011 for the course EEP 142 taught by Professor Villas-boas during the Spring '11 term at Berkeley.

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142_5_OPEC_ProjectExample - February 7, 2011 OIL,...

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