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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (70546)	6/3/2008 6:41:38 PM
From: Cogito	Read Replies (2) \| Respond to of 543629

BC - One tiny country can't afford the oil, so that means there's a global shortage? No, there's a local shortage in Belize, due to economic conditions there. That has nothing to do with overall supply. If they had the money, would the oil be available for them to buy? Yes. A shortage means that only some of the people who want the oil can get it, at any price. In that situation, the price goes up as buyers try to outbid each other. The losing bidders don't get any oil. - Allen