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Russia, Iran and Qatar made the first serious moves Tuesday toward forming an OPEC-style cartel on natural gas, raising concerns that Moscow could boost its influence over energy markets spanning from Europe to South Asia.

Wow. Looks like we will soon have a new cartel to use as a real-world example. Finally an alternative to OPEC.

May be interesting to see if this new cartel can wield as much power as OPEC has over the last thirty years. One consideration–is the demand for natural gas as inelastic as the demand for petroleum?

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