OPEC Has Outlived Usefulness

In a video interview for Oil & Gas 360, John Hofmeister, former CEO of Shell Oil Company, comments that OPEC has outlived its usefulness. The interview discussed the impact that Saudi Arabia has on world oil prices. The interview appears as part of the continuing series, Top Minds In The Business. Questions were posed concerning, Saudi Armco's recruiting efforts to hire laid-off American oil and gas people to develop unconventional resources in Saudi Arabia, and "Is OPEC a thing of the past?"