Political Forum
     

Go Back   Political Forum > General Political Chat > Political Opinions & Beliefs


Reply
 
Thread Tools Display Modes
  #11 (permalink)  
Old 07-01-2008, 06:36 AM
White Fox's Avatar
White Fox White Fox is offline
Guru
 
Join Date: May 2008
Location: 札幌市
Posts: 6,958
singapore de hesse
White Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond repute
Credits: 35,808
Default

Quote:
Originally Posted by THE SKEPTIC View Post
I know who the OPEC countries are. I had asked which one do you consider as friends of ours.

Being as wealthy as they are it would be far from suicide to reduce there revenues for a month.

They would still sell their oil just not to us.
You asked which ones were friends, and I answered.

If they still sold their oil, just not to us, then there would be no problem whatsoever. If they cut off production completely, they would lose trillions. That is economic suicide.

http://www.econlib.org/library/Enc/OPEC.html
Contrary to what many noneconomists believe, the 1973 price increase was not caused by the oil "embargo" (refusal to sell) directed at the United States and the Netherlands that year by the Arab members of OPEC. Instead, OPEC reduced its production of crude oil, thus raising world oil prices substantially. The embargo against the United States and the Netherlands had no effect whatever: both nations were able to obtain oil at the same prices as all other nations. The failure of this selective embargo was predictable. Oil is a fungible commodity that can easily be resold among buyers. Therefore, sellers who try to deny oil to buyer A will find other buyers purchasing more oil, some of which will be resold by them to buyer A.

__________________
.
"It is extremely difficult for our contemporaries to conceive of the conditions of free banking because they take government interference with banking for granted and as necessary"

-- Ludwig von Mises


Reply With Quote
Sponsored Links
Red Cross - Donate Today    Save the Rainforest
  #12 (permalink)  
Old 07-01-2008, 06:45 AM
THE SKEPTIC THE SKEPTIC is offline
Observer
 
Join Date: Jun 2008
Location: TUCSON AZ
Posts: 39
usa
THE SKEPTIC is on a distinguished road
Credits: 172
Default

Quote:
Originally Posted by White Fox View Post
You asked which ones were friends, and I answered.

If they still sold their oil, just not to us, then there would be no problem whatsoever. If they cut off production completely, they would lose trillions. That is economic suicide.

http://www.econlib.org/library/Enc/OPEC.html
Contrary to what many noneconomists believe, the 1973 price increase was not caused by the oil "embargo" (refusal to sell) directed at the United States and the Netherlands that year by the Arab members of OPEC. Instead, OPEC reduced its production of crude oil, thus raising world oil prices substantially. The embargo against the United States and the Netherlands had no effect whatever: both nations were able to obtain oil at the same prices as all other nations. The failure of this selective embargo was predictable. Oil is a fungible commodity that can easily be resold among buyers. Therefore, sellers who try to deny oil to buyer A will find other buyers purchasing more oil, some of which will be resold by them to buyer A.

So please tell me. What accounts for the huge increase in the price of oil and why then should we drill our own if OPEC is so wonderful? Any oil we found would be the same price.
__________________
"Conservatives Reward and Admire Achievement, Liberals Reward and Admire Non-Achievement"
Reply With Quote
  #13 (permalink)  
Old 07-01-2008, 06:51 AM
White Fox's Avatar
White Fox White Fox is offline
Guru
 
Join Date: May 2008
Location: 札幌市
Posts: 6,958
singapore de hesse
White Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond repute
Credits: 35,808
Default

Quote:
Originally Posted by THE SKEPTIC View Post
So please tell me. What accounts for the huge increase in the price of oil and why then should we drill our own if OPEC is so wonderful? Any oil we found would be the same price.
Follow my first link then
__________________
.
"It is extremely difficult for our contemporaries to conceive of the conditions of free banking because they take government interference with banking for granted and as necessary"

-- Ludwig von Mises


Reply With Quote
  #14 (permalink)  
Old 07-01-2008, 06:59 AM
THE SKEPTIC THE SKEPTIC is offline
Observer
 
Join Date: Jun 2008
Location: TUCSON AZ
Posts: 39
usa
THE SKEPTIC is on a distinguished road
Credits: 172
Default

Quote:
Originally Posted by White Fox View Post
Follow my first link then
So you have no idea on your own in your own words? Interesting
__________________
"Conservatives Reward and Admire Achievement, Liberals Reward and Admire Non-Achievement"
Reply With Quote
  #15 (permalink)  
Old 07-01-2008, 07:03 AM
White Fox's Avatar
White Fox White Fox is offline
Guru
 
Join Date: May 2008
Location: 札幌市
Posts: 6,958
singapore de hesse
White Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond reputeWhite Fox has a reputation beyond repute
Credits: 35,808
Default

Quote:
Originally Posted by THE SKEPTIC View Post
So you have no idea on your own in your own words? Interesting
Those are my own words.
__________________
.
"It is extremely difficult for our contemporaries to conceive of the conditions of free banking because they take government interference with banking for granted and as necessary"

-- Ludwig von Mises


Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
McCain and Reality. DuH2 Elections & Campaigns 21 05-17-2008 08:23 AM
The Matrix is a Reality JayMick Other/Miscellaneous 4 10-31-2007 12:31 PM
Conservation....yet another lost conservative ideal liberalman Environment & Conservation 4 03-18-2007 12:03 AM
Reality Nazi Political Science 24 09-04-2005 07:46 AM
A Mythic Reality mpotter Political Opinions & Beliefs 12 09-09-2004 08:43 AM

Sponsored Links

All times are GMT -8. The time now is 10:54 AM.


Powered by vBulletin® Version 3.7.1
Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0
Template-Modifikationen durch TMS
vBCredits v1.3 ©2007 by Darkwaltz4
Advertisement System V2.1 By   Branden