GREY:WFREF - Post by User
Post by
soundandfuryon Aug 08, 2015 7:40pm
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Post# 24000786
what is "opec" anyhow???
what is "opec" anyhow???well opec is just a marketing board...............it was set up to supply manage the oil industry. Not unlike what canadian dairiy and egg produces have in place to manage the supply of the commodity by issueing quota to producers. That is exactly what opec does...............issues quota to oil producers...................All free trade agreements dispise marketing boards....................but as we can see without some sort of supply management the producers are the one who pay the price by over producing or cheating on there quotas. Its greed really and the high price of oil which encouraged over production. Anyhow thats the commodity markets for ya.....................if the oil industry was completely supply managed..................likely would not even be a long run exploration cause the would never have gotten quota..........................heheheh