Can tourism-dependent Caribbean governments learn something from oil-producing countries? When relatively small and poor oil-producing governments sought to get a fair price for oil, their main source of national revenue, they banded together to negotiate more effectively with the multi-national oil companies and the larger developed nations, which were the major consumers of their oil.

In 1960, five of these countries came together to found Organization of Petroleum Exporting Countries (OPEC) and were later joined by nine additional member states. As a result of their joint stronger bargaining power, oil prices have risen relatively steadily from US$1.63 per barrel in 1960 to an average of around US$77 during the last ten years.

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