What happens if there is no Opec? It won't be a paradise for sure

If the No Oil Producing and Exporting Cartels Act is able to work its way through US Congress and becomes a law, oil may get cheaper in America and elsewhere for a while but not for too long

Imagine a world without Opec. This is what the sponsors of legislation introduced in both houses of Congress seem to want. Versions of the “No Oil Producing and Exporting Cartels Act,” or the Nopec bill, are working their way through the Senate and the House of Representatives, and are likely to find much more support from the White House than they have in the past – Presidents George W Bush and Barack Obama both threatened to veto similar legislation.

The bill would allow US anti-trust laws to be enforced against Opec members whom the sponsors say have "used production quotas to