The UAE exits OPEC as the Iran war lingers on. Will other OPEC members follow? How does this OPEC shakeup impact American producers? Will energy prices rise or fall? Randall Holcombe, and economist from Florida St. University, joins Mike.

SHOW NOTES:

1:03: How Does OPEC Operate As A Cartel?

3:31: Why Do Cartels Breakup?

3:54: How Will UAE's Exit Influence Other OPEC Members?

4:44: How Will The American Takeover Of Venezuela's Oil Impact OPEC?

8:20: How Is UAE Situated To Thrive Outside Of OPEC?

12:26: How Are OPEC Nations Drawing Closer To The U.S.?