Publications: Notes at the Margin

Let OPEC "Twist Slowly, Slowly in the Wind" (April 24, 2017)


Today, those in the White House are almost certainly determined to let OPEC twist slowly, oh so slowly in the wind. Yes, many Americans would like higher oil prices. Yes, some in the Trump administration would also like higher oil prices. However, despite suggestions from OPEC officials, particularly Nigeria's oil minister Emmanuel Kachikwu, the United States has no intention of helping oil producers achieve higher prices. In our government's view, oil price stabilization is the responsibility of other countries. Not only will we not help, the United States will act to protect its producers should OPEC, Russia, and others attempt to punish us by overproducing and causing prices to fall.


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