The author comments on the article by Stiglitz (Am. Econ. Rev.; 66: 655-661(Sep 1976), especially taking issue with the intuitive model used; the model, a two-period model, uses zero extraction costs and a constant elasticity of demand in appraising the OPEC cartel. He also points to another quite unrealistic assumption, namely: That part of the stock which we do not consume in the first period will be consumed in the second. Pointing out that the constant elasticity assumption is usually used for mathematical convenience - never fits any real world situation - Tullock proceeds to show that not only have the oil-producing countries made a great deal of money from their cartel, but that this is what theory indicates should happen.