Can OPEC handle the oil game?
The worldwide oil market is unique, complex, and very difficult to predict. Robert D. Cairns, an economist from McGill University, laid out this message loud and clear in his recent research paper on the oil industry and the importance of OPEC’s involvement. Cairns, who visited the Colorado School of Mines campus last week, explained how OPEC, the Organization of Petroleum Exporting Countries, continues to hold lions’ share of the oil market and cautions that they must be careful in how they use that power.