Oh relax.
It's trickle-down ecomonics.
See the more obscenely wealthly these stalwarts of capitalism become, the more likley some crumbs will fall off the edge of the table and land on the floor near their feet.
That gives us filthy peasants a fighting chance to taste just a bit of what they do.
But we must hurry!
Supply is low and demand is high!
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Unless they are colluding with each other (which is illegal), oil companies cannot dictate monopoly pricing (i.e. creating their own prices); prices are determined by the market, through supply and demand.
A lot of the aggravation derives from the misconception that corporations arbitrarily decide the profit and prices they desire. Profit is always a maximization function, and prices are always a function of supply and demand. This is especially true since the product (oil) is completely fungible.
I am against most tax breaks, but if it comes down to giving tax breaks when the industry is doing poorly, and taking tax breaks when it is doing well, that's simply pointless.
A lot of the aggravation derives from the misconception that corporations arbitrarily decide the profit and prices they desire. Profit is always a maximization function, and prices are always a function of supply and demand. This is especially true since the product (oil) is completely fungible.
I am against most tax breaks, but if it comes down to giving tax breaks when the industry is doing poorly, and taking tax breaks when it is doing well, that's simply pointless.
Re: Monopoly
I meant the OPEC nations' attempts to set a "reasonable" price.
I meant the OPEC nations' attempts to set a "reasonable" price.
I heard so many BULLSHIT today.