> Paul Phillips wrote: > > Please Jim, tell us you got this from the Onion. > > A perfectly elastic supply of $20/bbl oil from non-Opec suppliers? Like > > Canada where oil sands 'oil' is said to cost minimum $45 bbl just to > > produce, and that was before the recent escalation in production costs. > > And, of course, before the reduction in the value of the USD Thurow > proposes > > which would produce a corresponding increase in oil prices to (?) 30 > USD/bbl > > even with Thurow's calculations.
Ah, but perhaps that's the ace up Thurow's sleeve. For the sake of argument, let's say there IS all this $20 a barrel oil out there. Then, say the government guarantees the price at $20 a barrel. With the devaluation of the dollar the oil will cost only $13 after adjusting for inflation! Don't play three-card monte with this guy! -- Sandwichman _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
