How can that be when Global Capitalism provides you with more value at lower costs.
2007-01-18 07:08:57 · 4 answers · asked by Do not delete. 1 in Social Science ➔ Economics
How does an oil cartel fit a competitive capitalistic model? Do you think before you type?
2007-01-18 07:14:07 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Price of Oil? OR,
Price of Gas?
The price of oil is fair; based on the the supply and demand. In fact, since oil production has increased the supply the price per barrel is dropping.
Gas prices at $2.00 USD per gallon is actually a fair price considering that over 30 years ago price was $1.00 USD per gallon; showing SMALL inflation for the price of gas.
However, forcasting into the future ... since crude oil is a limited comodity, the increased production will lead to a low supply in the next few decades. Unless the WORLD finds alternatives ... well WAR unpresidented beyond anything we've seen.
Additionally, the spike of gasoline prices after Katrina (to $4.00 -$7.00 per gallon) were attributed to the oil processing plants in New Orleans. Since New Orleans is a major receiver of the crude oil, they process the oil into gasoline for most of the East Coast. Many states prohibit Companies to build new processing plants. This makes a "Bottle Neck" on getting oil turned to gas for consumers to use.
2007-01-18 15:54:50 · answer #2 · answered by Giggly Giraffe 7 · 0⤊ 1⤋
the problem is I rather have no oil at all
so I dont' have to hear people complain
if you don't like it, dont' use it
if you can't afford it, don't use it
if you compain put a sock in it
2007-01-18 15:31:33 · answer #3 · answered by MiKe Drazen 4 · 0⤊ 0⤋
Are you buying? Then it's too high.
Or, are you selling? Then it's too low.
2007-01-18 23:43:50 · answer #4 · answered by sargon 3 · 0⤊ 0⤋