On 9/12/07, Michael Perelman <[EMAIL PROTECTED]> wrote: > Leigh, you may be correct, but the information you are providing does not > really show > much. When oil fell to $20 dollar a barrel some time ago, what did that > prove? > > If this is the way the debate will proceed, I was wrong to give it a reprive. >
This is the money quote... for some reason oil prices AREN'T going down as expected from a previous OPEC action. Why not? That is where I would hope the discussion would lead. > > . > > ...It had been expected that Opec's (Previous!) move would eventually > > depress > > prices and that this could help ease recent US economic and global > > stock market jitters. > > [...] > > > > <http://news.bbc.co.uk/2/hi/business/6991567.stm> > > > So Opec tries again. Is there historic precedence for this? I know that the Saudis can only truly control production by brute force (capacity cleansing), threats and intimidation. Venezuela's bucked them before. Maybe no one is interested in what is current, and all that will become of this thread are people critiquing the present because the market's behavior isn't apparent from the past. But then, isn't economics a 'lagging' science? Peak oil, or whatever you want to call it can't be discussed by past behavior because there ISN'T any.
