This article was published by The McAlvany Intelligence Advisor on Wednesday, October 11, 2017:
Free market economists have long considered OPEC as a textbook example of the anti-free market cartel. Its mission statement confirms it:
To coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets, in order to secure an efficient, economic, and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry.
This is of course the “siren song” of every cartel: