Professor Mark J. Perry's Blog for Economics and Finance
The chart above is from the Net Oil Exports blog, and shows the difference between: a) OPEC's official quotas and b) OPEC's typically higher actual production, demonstrating that "OPEC almost always cheats as a group. They over-produce by 500,000 barrels per day (bpd)."
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
2 Comments:
As the eternal wheel turns, monopoly partners cheat.
Always.
Is this a problem?
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