OPEC, the Organization of Petroleum Exporting Countries, Was Formed in Baghdad

question 44

Essay

OPEC, the Organization of Petroleum Exporting Countries, was formed in Baghdad in 1960. Since its formation, this cartel has suffered from a major problem with respect to the quota (limit) of output it assigns each member nation. What is OPEC's goal and what sort of quota do you think the cartel assigns? How and why do nations cheat on their quota? What happens when a nation cheats on its quota?

---

Definitions:

Massey and Denton

Sociologists known for their influential work on race and housing in the United States, particularly their study on American apartheid and the residential segregation of blacks.

African Americans

A term referring to citizens or residents of the United States who have total or partial ancestry from any of the black racial groups of Africa.

New Immigrants

Refers to the recent arrivals into a country, who typically come from different cultural, linguistic, or ethnic backgrounds than the majority population.

Urban Ethnic Enclaves

Neighborhoods in urban areas predominantly inhabited by a specific ethnic group, maintaining distinct cultural identities.