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" ... In the long run it just won't work. For two reasons, the same two that are undermining the current version of Opec. The first being that substitutability. Even at the current level of technology you'd have to include natural gas and shale as well as conventional oil (and no anti-trust organisation is going to allow that to happen). But think it through a little further: the largest use of oil is for transport. But what if we all end up driving electric cars, as Tesla supposes? Does Tesla and its battery factories have to become part of the oil cartel? Well, yes, if that oil cartel wants to stay effective, then yes Tesla does have to join. ... "