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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (387099)	5/29/2008 1:43:57 AM
From: SilentZ	Read Replies (1) \| Respond to of 1575981

>I'm not arguing that; I'm simply saying if you cut demand, OPEC can cut supply to offset it -- and they may well do just that. Except why would they? They'd only do that if: 1. The political benefits of doing so exceeded the economic negatives 2. Lowering the supply raised the price enough to cover the loss of volume 3. They were acting irrationally. -Z

To: i-node who wrote (387099)	5/29/2008 7:59:01 PM
From: tejek	Read Replies (2) \| Respond to of 1575981

Hey, I am not the one who's trying to argue that demand has little to do with the current price of crude. I'm not arguing that; I'm simply saying if you cut demand, OPEC can cut supply to offset it -- and they may well do just that. A few years back the argument frequently made by energy professionals was that as the price of crude goes up, it will spark more exploration which will result in more oil getting brought on line. That was back when oil was $30 per barrel. Well here it is 2008 and oil is now at $130, and yet, supply is falling. And you, the idiot that you are, believe some mystic cartel is holding back. Its been years since OPEC had that kind of control but understandably, you continue to push the notion that OPEC or someone else is playing with the supply. Why I say understandably is because you and your cohort are at your best when pushing conspiracy theories. Such theories ignore the likelihood that higher prices will encourage more exploration and production, or that spendthrift oil countries will go on buying sprees.....see Dubai, Bahrain or Saudi Arabia. With each post, the significance of your ignorance becomes more apparent. Economics isn't your strong suit. I'm thinking you may have gone to the CJ school of economics. At least CJ and I understand economics. You're not even on the playing field.