OPEC AND OIL PRICES

Former US Official Suggests Asset Swap to Reintegrate Oil Industry 

Instead of allowing oil prices to be set by a fluctuating free market, both producing and consuming countries would be best served by a reformed system of oil market management, according to Mr. Edward Morse, former US Deputy Assistant Secretary of State for Energy Policy.

Writing in the quarterly Foreign Affairs, Mr. Morse asserts that "today's oil market is essentially out of...