We’ll Miss OPEC When It’s Gone

Mr. Bordoff is the founding director of the Center on Global Energy Policy at Columbia University’s School of International and Public Affairs.

The White House declared last week that President Trump finally “broke OPEC” after the United Arab Emirates withdrew from the cartel. That must have been satisfying. Mr. Trump has criticized OPEC for decades.

But Mr. Trump did not cause the breakup, and the White House’s celebrations may prove premature. For the moment, the U.A.E.’s exit changes little. Over time, a weaker OPEC may mean not lower prices but greater volatility — more violent swings that households and businesses will struggle to absorb. Oil prices are poised to surge in the coming weeks as........

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