About OPEC:
http://edwardjayepstein.com/archived/opec.htm
"The continued preoccupation with the potential threat of OPEC distracted attention from the actual flesh-and-blood organization that inspired it. Despite a booming voice that has reverberated through the world's media for the past decade, it turns out that OPEC is a small organization. Its headquarters, in Vienna [??? wonder why

], is its only office: there are no branches or representatives elsewhere. Except for the alert squad of Austrian "Cobra" commando-, with submachine guns guarding the entranceway, the four-story building at Donaustrasse 93 in downtown Vienna resembles any other modern office building in Europe. It is built of gray marble, and glass, With a small parking lot in front, and almost identical buildings on either side, housing IBM and an Austrian hank. In 1982, twenty-two years after it was founded, 0PEC employed only thirty-nine persons on is executive staff. Not counting a few dozen Austrian secretaries and clerks and a handful of employees of OPEC's Fund for International Development (which awards grants and other largesse to countries in the Third World), this staff of thirty-nine men constitute the entire worldwide employment of OPEC. It included everyone from the secretary general to the press officers.
[to be continued see the link above...]
OPEC made an especially convenient "clear enemy" precisely because it hardily existed. If a real country were chosen for this role, there would be real consequences. Consider, for example, what would have happened if Carter had substituted "Saudi Arabia" for "OPEC" in his denunciations. He would have to have depicted Saudi Arabia holding a knife to America's outstretched neck, an image inconsistent with continued military aid to that country. OPEC, on the other hand, with which the United States had neither trade nor foreign relations, provided an ideal diversion from reality. It also yielded a four-letter word for the press to use in headlines. Oil companies could put the blame for gas lines and soaring prices on OPEC, with which they had no commercial relations, without offending the countries on which they depended for supplies. OPEC served an even more important purpose for the oil-exporting nations. It gave powerless nations, which had the means neither to operate their oil fields nor to defend themselves, a dazzling mask. Specifically, for Saudi Arabia, which produces almost half of OPECs oil, it provided international camouflage for its oil policy. Just as the United States used the OAS as a mask for the embargo on goods shipped to Cuba in the 1960s, and the Soviet Union used the Warsaw Pact as a mask for intervention in Czechoslovakia in 1968, Saudi Arabia used OPEC to obscure its manipulation of the oil market. "
Quote from ElectricSavant:
They will still pump out that oil....if not perhaps OPEC will have a supply issue and another excuse for a hike in the cost of a barrel of oil.
Michael B.