In an unexpected decision made after a six-hour meeting that lasted well into the night, the OPEC oil cartel said it would reduce its oil production by about half a million barrels a day in a bid to stem a rapid decline in oil prices in recent weeks. (New York Times, Wednesday)
Think of the many ways that U.S. policy bolsters OPEC.
FEE Timely Classic
Voluntary and Coercive Cartels: The Case of Oil by David Osterfeld
Looking for the unseen effects of economic policy is the beginning of wisdom. ... Go to blog
Recently many popular websites went black to fight the proposed SOPA and PIPA bills. Fighting censorship, however, is nothing new. ... Go to blog
It appears that spending on government education in one year was 324 times the amount companies spent on Super Bowl ... Go to blog
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