Well, howdy there, Internet people, it's Bell again. So today, we're going to talk about

China setting up a new OPEC-style agreement and a clear sign that the U.S. is falling behind.

For decades, the United States and other countries had to deal with OPEC's influence over the

global oil market. It wasn't

always a pleasant experience for countries trying to maintain access to oil at prices they wanted.

OPEC is the organization of the petroleum exporting countries. It's an intergovernmental entity that

fosters cooperation between producers to influence the

supply of oil to maximize the member's bottom line. It's all about the money. Prices get too low.

Members reduce production and keep the price elevated. Prices get too high and start to spur innovation? Well, it's time to flood

the market with oil. This power put the U.S. at a disadvantage. Now, China is reportedly using OPEC as a

template to control the supply of energy-producing components so they can maximize their profits.

More than 30 of China's largest solar power component manufacturers have signed on to an agreement

to maintain production quotas based on the current market share to keep the price up.

China is installing about two-thirds of the

world's solar projects. There's a solar boom going on there. For a comparison, China added

more solar panels in 2023 than the U.S. has. That's the end of the sentence. China installed more solar panels in one year,

2023, than the U.S. ever has. They're leading the world. But despite the massive amount of

installation, their production capability for components is even greater.

Their supply is outpacing demand, and they've become so skilled at it that they're worried

prices will drop so low that some of the companies will go out of business.

And a quick look at the numbers tells me that's a very realistic worry.

I don't even know that the agreement will help keep the doors open on all of the companies.

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