Viennese whirl
CARTELS work best when the members like and trust each other, when the penalties for breaching the rules are severe, and when outsiders are too weak to matter. OPEC, the cartel which controls 40% of the world’s oil production, fails on all counts. That makes bold decisions at its meeting today in Vienna unlikely, and sticking to whatever it agrees on even less likely still.
Mud wrestling
THE debate over Scottish independence sometimes resembles a duel between accountants, so keen is each side on flinging numbers at the other. That is especially true when it comes to the oil and gas industry—a crucial earner for a new Scottish state. But nationalists and unionists hold to entirely different views of the future riches of the North Sea (see chart). What accounts for the disparity?
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Sheikhs v shale
