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National Bureau of Economic Research Latest from the NBER A research summary from the monthly NBER Digest The Environmental Benefits of OPECs Collusive Behavior article The global oil sector accounted for more than 40 percent of anthropogenic CO2 emissions in 2021. The Organization of the Petroleum Exporting Countries OPEC cartel power restricts oil supply which in turn reduces the environmental externalities of fossil fuel use. OPECs influence on prices also shifts production locations both across cartel members and between cartel members and nonmembers. In Two Wrongs Can Sometimes Make a Right The Environmental Benefits of Market Power in Oil NBER Working Paper 33115 researchers John AskerAllan CollardWexlerCharlotte De CannireJan De Loecker andChristopher R.