05-02-2011, 04:49 PM
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#6
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Registered User
Join Date: Oct 2006
Location: New Paltz, NY 12561
Posts: 935
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Quote:
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Originally Posted by thstone
A small handful of producers (OPEC) who set production limits apriori is not a sellers free market.
This is why we need to drill for our own here in the US.
Equally, a small handful of sellers (Big Oil Companies) who effectively set the market price of gasoline to consumers world wide is not a free market.
Repeat after me 100 times: Oil Companies DO NOT set the price of oil.
(they do set the price at the pump in your neighborhood based on what the oil futures are selling for. That is why a year ago the price at the pump was so much lower. Now why didn't they set the price at $5 a gallon a year ago if they are so greedy?)
In a true open market, oil production would rise substantially as soon as oil prices increase. Instead, prices go up and production stays constant.
Therefore, the worldwide oil market is not free nor open. Q.E.D.
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NO it is not free and open when your own govt. is restricting trade through its various agencies and depts. i.e. Interior, Bureau of land management, dept of interior, epa, ad naseum. Due to the agenda to drive up the price of fuel you are seeing the results of this philosophy.
AKL 
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