Oil Cartel Quotes

In the U.S. I think there are really two reasons we should pursue energy policy. One is climate change, and the second is this notion that the oil market is cartel-ized by people, some of whom are friendly, some of whom are not, some of whom are in a more ambivalent position to us.

First off, the crude oil market, unlike every other commodity in America, is virtually unregulated.

There is no free market in oil.

There is no free market for oil. It's controlled by a cartel, OPEC.

People really feel that, when they go to the gas pump now, that the oil cartel is holding them by the legs and tipping them upside down and shaking money out of their pockets.

There are signs that the age of petroleum has passed its zenith. Adjusted for inflation, a barrel of crude oil now sells for three times its long-run average. The large western oil companies, which cartellised the industry for much of the 20th century, are now selling more oil than they find, and are thus in the throes of liquidation.

There is no free market for oil.

OPEC has got a monopoly. If you try and get a lobbyist in Washington to go against OPEC, they'll say, 'Oh, this is great. Donald Trump wants me to be a lobbyist,' and then they'll go check and say, 'Oh, I'm sorry, Mr. Trump, we can't represent you. We represent OPEC or one of the 12 nations.'