OPEC

flickr/smreilly

Tomorrow, the Organization of Petroleum Exporting Countries (OPEC) meets in Vienna to try to figure out a way to cut oil production.  For decades OPEC’s set oil prices by controlling supply. So the meeting will be closely watched because it could lead to higher oil prices.

But, the idea to manipulate oil prices by setting limits on oil, didn’t start with OPEC. It started right here in Texas.