For many years, the price of oil has been propped up by the OPEC cartel. A revolution occurred, however, where fracking technology began to generate huge oil sources from new markets, mainly in the U.S. -- that is, from a player outside of the cartel and not one that was ever going to cooperate with the cartel. This is a generational, cartel-breaking event for an asset that has global significance and not just for the energy industry, but for all of us. Much of what "game theory" tells us about cartels and oligopolies has been shown to be true as the fracking revolution broke the OPEC cartel. OPEC had a choice -- either lose market share and preserve price by cutting supply as other producers ...
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