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Politics : Moderate Forum
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To: Sun Tzu who wrote (18150)7/15/2005 8:43:31 PM
From: 49thMIMOMander  Read Replies (1) of 20773
 
Oil is a very scarce, badly needed, no-free-market commodity..

Most consumers consume it through non-commodity long term contracts, although the spot-markets might be seen as something like a commodity-market, by those willing to do so??

I still remember when Bush I, somewhat angry after he had lost his second election, on a republican campaign finance party, got orgastic about how he saved US for the $100/barrel commodity and consumer gas-market (and nobody thanks him for that, not even the Saudis)

PS How did you come to the conclusion that oil was a commodity?? (obviously, that depends on the definition of 'commodity')
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