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Old 05-02-2011, 01:43 PM   #20
thstone
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Join Date: Nov 2010
Location: Los Angeles
Posts: 7,669
A small handful of producers (OPEC) who set production limits apriori is not a sellers free market.

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.

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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Last edited by thstone; 05-02-2011 at 01:53 PM.
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