All manufactured goods are finite
Sorry but that's not true. Take wool. It is a manufactured good, but it is not finite and will never be, as soon as we have sheep and the like.
On the other hand, oil is finite (according to the prevailing theory), because there is a limited supply of it underground, generated by the fossils of long-dead flora & fauna.
Still doesn't change the fact that ALL consumers of petroleum products would benefit from freer and more abundant supplies.
Where have I EVER said ANYTHING against that?
I KNOW that consumers benefit from lower prices, in ANY good, ANYTIME, ANYWHERE. And oil industry is no exception.
However, the fact that it is a finite commodity makes it undesirable for the producer country to flood the market with oil. THAT is what I am talking about. That it is NOT to the advantage of the PRODUCER.
That is why there is a cartel called OPEC, incidentally...
I hope the capital letter emphasis helped make my point clearer this time.
By the way, the same thing happens in most finite commodities - most of the world's chromium output comes from Kazakhstan, a company called KazChrome which I visited some years ago. They do not ever produce at capacity, and guess why.
AS just likes to single out the US because he/she is biased against America & her corporations.
That is possible. I do not know her enough to comment on that. |
