Why a Gas Cartel Could Be a Bust
To anyone who recalls OPEC's rise to global economic importance in the 1970s, the prospect of a similar cartel among natural gas exporters has become a cause for concern. An oil embargo by the Organization of Petroleum Exporting Countries quickly led to price spikes, fuel shortages and hours-long gas lines for motorists. Inflation soared, stifling growth in the U.S. and Europe.
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