Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: TimF who wrote (374495)	3/18/2008 5:41:49 PM
From: Road Walker	Read Replies (1) of 1573825

Sure people organize themselves in all different ways. But many of those ways are not the free market in operation. Cartels of governments are not free market institutions. Then we don't have a free market, do we? And we do have a wealth transfer. So what exactly do your libertarian platitudes do for us? It "ain't beanbag", and it isn't war. Its trade. Which is a very contentious exchange of wealth. Me or my guys against you and your guys. Now since OPEC is a cartel you might have some argument for "ripped off", except that there is little evidence that it is greatly restricting the available supply at the moment. Most OPEC countries don't have a lot of spare production capacity. When they have had spare capacity they often cheated on their quotas. There is some strong evidence, including their own statements, that they are are pumping to capacity. They have now set the low price at $90. They could set it higher... they have us by the balls. And I don't blame them a bit... they have a very and increasingly precious commodity. Also OPEC is only a fraction of the whole oil market. "Only a fraction" is a meaningless figure of speech. It could mean 1/20 or 19/20. Be specific.

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