07-10-2023, 08:05 PM
(07-10-2023, 07:54 PM)SunsetBengal Wrote: Would you agree that those shortages are manufactured by OPEC, in the name of profits? We've seen this yo-yo effect for decades where when OPEC extorts the World market, nations like the US start ramping up domestic production, which threatens demand for OPEC oil and the price comes down for a while.
Yes and no. There is no doubt that this occurs frequently, but the high prices immediately post COVID were because of a decrease in production that couldn't be ramped up fast enough to meet demand once people started hitting the roads again. There really was a perfect storm of things as we emerged from that situation. In general though, as with most things, the price of oil is regularly artificially inflated by those with a firm grasp on the levers to do so. Nothing has a value greater than what someone is willing to pay for it, and because of the reliance on oil to fuel the global economy the assholes at OPEC have us by the short and curlies.
"A great democracy has got to be progressive, or it will soon cease to be either great or a democracy..." - TR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
