Oh, I just realized another way the oil market is distorted: Governments in many countries stabilize the price of oil and gas with subsidies. I hear the governments in both India and China, for example, control the price of oil and gas to keep it affordable to the masses. I know it happens in many other countries, too. At the other end, European and other governments tax oil and gas heavily, further distorting market mechanisms.
From: Bob Giramma Sent: Friday, May 09, 2008 1:56 PM To: [email protected] Subject: Re: [Libertarian] Stop the War FOR Terror Speaking of oil ... Heard on the radio: Around 80% of the world's oil is controlled by governments. I would argue that market mechanisms are rather dysfunctional in such a situation. It's not just supply and demand that affect price and access. From: goat! Sent: Friday, May 09, 2008 11:29 AM To: [email protected] Subject: Re: [Libertarian] Re: Stop the War FOR Terror [EMAIL PROTECTED] wrote: > Why did we invade Iraq? > 1. Saddam was an SOB. > 2. He might be giving aid and comfort to our enemies. > 3. He might want weapons of mass destruction. > 4. He had oil (which we were doing without, but coveted). Actually, we weren't doing without the oil either, "we" just wasn't making most the money off of it. Goat [Non-text portions of this message have been removed]
