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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.
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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You avoided my questions" Is .02 per gallon excessive profits?