Could USA/Canada/Mexico Dethrone OPEC and Set Oil Prices?

Here’s an interesting idea: What if the U.S. got together with both Canada and Mexico and formed a price fixing coalition like OPEC to control the price of oil? The three North American countries together produce 15 million barrels of oil per day and if they formed a block, it might dethrone OPEC (Organization of the Petroleum Exporting Countries) as the world’s defacto oil price-setting body. That idea is being floated by Breitling Energy Corporation CEO Chris Faulkner. MDN editor Jim Willis met and chatted with Chris at last fall’s regional Oil & Gas Awards Industry Summit in Dallas, TX. The price of oil has a great deal of influence over the price of natural gas–in particular LNG. So any kind of price-setting body is of keen interest to MDN readers. The question is, would such a price-setting body work here in the U.S.?…

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