Int’l Affairs

The Future of OPEC

OPEC was organized in the early 1960s by Saudi Arabia, Iran, Iraq, Kuwait and Venezuela with the primary goal of unifying the five countries’ oil export policies. The five countries certainly possessed that power when the cartel was initially formed, and while the cartel still produces about 40% of the world’s oil, OPEC’s dominance has declined over the years.

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An Israeli-Iranian Dialogue: Why Not?

In early December 2013, Israeli President Shimon Peres stated that he was willing to meet with Iranian President Hassan Rouhani. The Israeli and Iranian media have not paid much attention to this statement so far, probably assuming that such a meeting is unlikely to happen and that the individuals lack the power to cut a deal.

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