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How would the WTO help us deal with OPEC anyway?
by bmgreene

Isn't the usual first step in a WTO fight the imposition of tariffs? (ignoring the likelihood that a WTO battle of this complexity would probably take longer than increasing production capacity in North America to even reach that point)

By all means, let's slap an import tariff on imports from OPEC countries! That'll bring down the price at the pump. Or maybe we should reverse-embargo OPEC and just stop buying their oil? Can you say $10/gallon by 2010....

Even if a cartel made up of soverign governments is somehow subject to U.S. antitrust laws, there is no workable enforcement mechanism and no way of enacting any recourse against OPEC members without drastically increasing fuel prices around here.

In addition to decreasing our own consumption of petroleum, the only thing we could do to bring prices down significantly would be to provide extensive help to Russia in boosting production and figuring out how to transport it more efficiently across central Asia to feed growing demand in China and India, and even that wouldn't work for sure.

Besides, most U.S. oil imports come from Canada, who is not an OPEC member.

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