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Politics : Politics of Energy
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To: Brumar89 who wrote (8787)5/31/2009 8:41:14 PM
From: RetiredNow  Read Replies (1) of 86356
 
Wrong. Supply and demand are not the only cause of price fluctuations in the market for oil. Get this through your exceedingly thick skull: the oil market is not a free market and as such is not ruled by supply and demand. It is a market that is controlled by OPEC and heavily subsidized throughout the entire world. There's nothing free about it.

A free market is one in which buyers and sellers negotiate a price and then a deal is struck. A free market is one where supply is free to grow when demand grows with no artificial caps put in place. The oil market is one in which OPEC decides what price they will target and then they manipulate supply to try to hit those targets. It's a market in which our own government provides tax subsidies, incentives, preferential land leases, and a military infrastructure to secure our supplies around the world, even if it means war to accomplish that.

There is nothing free about the oil market.
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