“Got those OPEC Blues Again” and “Rational Exuberance”

“Got those OPEC Blues Again” and “Rational Exuberance” SUMMARY Since March of 1999, when the price of West Texas Intermediate crude oil was at $13 a barrel, we have seen a steady increase in prices in all phases of the economy. OPEC, the organization that is largely responsible for setting production goals in the Middle East, was under fire to find ways to increase prices. OPEC members at this time “pledged to cut back the supply of …

…how the economy is performing as a whole. Also, although I may not like it, Alan Greenspan’s monetary policy has been very sound and the resulting increases in interest rates will have the desired effect. It will be interesting to see how the upcoming Presidential elections help or hinder the economy. BIBLIOGRAPHY “Got those OPEC Blues Again,” Business Week, December 6, 1999, 48-49. Allen, Jodie T., “Rational Exuberance,” U.S. News and World Report, November 8, 1999, pp. 71.