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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: Thomas A Watson who wrote (1811)8/19/2008 1:51:00 PM
From: Brumar89  Read Replies (1) | Respond to of 86356
 
Okay, I'm not sure I buy all that reasoning but I won't argue with it either. Who knows how much uncertainty is in the price of oil? And what is the "true price"?

I lean more to the true price is the price, but maybe this issue is one of definitions.



To: Thomas A Watson who wrote (1811)8/19/2008 3:04:48 PM
From: TimF  Respond to of 86356
 
If the "true cost" is not the market price, than there is no true cost. Markets may have "irrational exuberance" they can even be manipulated (although the oil market is so big as to make it pretty hard to manipulate if your not OPEC), but they are the only way to determine "the true cost/price". If you think they fail to do so, than there is no reason to accept any price as "true".


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