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Politics : Politics of Energy
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To: RetiredNow who wrote (8296)5/28/2009 2:00:04 PM
From: TimF  Read Replies (1) of 86356
 
"a free market in oil" can mean slightly different things. We don't have a free market in oil production. State owned companies responding to political incentives control much of the production and many of them are in a cartel. And even in more free market systems like in the US, there is a lot of regulation and other forms of intervention in oil production.

But we do have a pretty free market in oil once its produced.
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