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OPEC

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Organization

The Resume

Why OPEC might be annoying:

    They are a cartel that tries to limit production to artificially inflate prices.
    During the Yom Kippur War (1973), they used oil as a weapon by imposing a boycott on the US and other allies of Israel.
    They triggered massive inflation during the 70s.
    Since the Soviet Union was a net oil exporter, the price increases OPEC created helped prop up Communism.

Why OPEC might not be annoying:

    The energy crisis of 1973 prompted drilling in Alaska, Mexico and the North Sea, reducing OPEC's ability to control production.
    Price increases turned out to be much more effective than appeals to conscience in promoting energy conservation.
    According to their web page, OPEC's mission is to 'stabilize the oil market and to help oil producers achieve a reasonable rate of return on their investment.' (Of course, as a consumer you may have a different notion of 'reasonable rate of return' than OPEC members do.)

Credit: C. Fishel


Featured in the following Annoying Collections:

Year In Review:

    In 2023, Out of 197 Votes: 65.48% Annoying
    In 2022, Out of 315 Votes: 44.76% Annoying
    In 2021, Out of 8 Votes: 100% Annoying
    In 2020, Out of 2 Votes: 100% Annoying
    In 2019, Out of 36 Votes: 47.22% Annoying
    In 2018, Out of 8 Votes: 100% Annoying
    In 2017, Out of 3 Votes: 100% Annoying
    In 2016, Out of 26 Votes: 100% Annoying
    In 2015, Out of 8 Votes: 100% Annoying
    In 2014, Out of 15 Votes: 60.0% Annoying
    In 2013, Out of 15 Votes: 66.67% Annoying
    In 2012, Out of 22 Votes: 77.27% Annoying
    In 2011, Out of 18 Votes: 94.44% Annoying
    In 2010, Out of 26 Votes: 96.15% Annoying
    In 2009, Out of 102 Votes: 67.65% Annoying
    In 2008, Out of 114 Votes: 72.81% Annoying