Level Extreme platform
Subscription
Corporate profile
Products & Services
Support
Legal
Français
Who sets the price of oil?
Message
From
10/10/2004 17:16:47
Hilmar Zonneveld
Independent Consultant
Cochabamba, Bolivia
 
 
To
10/10/2004 17:01:55
General information
Forum:
Politics
Category:
Economics
Miscellaneous
Thread ID:
00950250
Message ID:
00950288
Views:
14
Of course somebody is making a nice buck - I don't doubt that. But then again, it is not a single person or entity which controls prices. There are several producers and several consumers, so I think the law of supply and demand would indeed be operative.

Then of course, on the other hand, there is always the possibility of a secret conspiracy.

I don't doubt that governments, and perhaps some more secret groups, try to influence not only petroleum prices but also lots of other things of the World situation. But, I don't think that there is any single group that controls absolutely everything, and I sort of suspect that things have gone sort of out of control, even for the most powerful governments.

>Hilmar,
>
>So you think it's out of control.
>
>But then why would prices go up UNLESS someone is making a nice buck on this?
>
>Someone *IS* making a nice buck! And it looks like it's the same person who sets the price. When you have a captive market - which is where things are now with oil - people HAVE TO BUY. The law of supply and demand is not operative in such cases, but it's awfully handy to make it look like it is the cause.
>
>something definitely stinks. I still guess it comes down to WHO is setting the price and what THEY get out of the price.
>
>Jim
Difference in opinions hath cost many millions of lives: for instance, whether flesh be bread, or bread be flesh; whether whistling be a vice or a virtue; whether it be better to kiss a post, or throw it into the fire... (from Gulliver's Travels)
Previous
Next
Reply
Map
View

Click here to load this message in the networking platform