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OPEC's Second Coming

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Science  21 Aug 1998:
Vol. 281, Issue 5380, pp. 1129
DOI: 10.1126/science.281.5380.1129

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As geologists and economists hotly debate when oil will begin to run short (see main text), there's general agreement that despite today's dirt-cheap, $14-a-barrel oil, the oil-consuming nations of the world had best take heed from the lessons learned during the oil crisis a quarter-century ago. The domination of the market by the Organization of Petroleum Exporting Countries (OPEC)--which spawned the '70s crisis--will soon return, probably in the next decade.