13 Apr 20
@shavixmir saidOPEC has been doing this since the 70s.
The oil producing countries have agreed to produce 10% less oil in May and June, to crank up the price.
Isn’t that cartel forming?
Isn’t that unfair in the capitalist world?
13 Apr 20
@shavixmir saidYes, but it benefits USA so it's OK.
The oil producing countries have agreed to produce 10% less oil in May and June, to crank up the price.
Isn’t that cartel forming?
Isn’t that unfair in the capitalist world?
13 Apr 20
@shavixmir saidGovernment auction during prohibition:
The oil producing countries have agreed to produce 10% less oil in May and June, to crank up the price.
Isn’t that cartel forming?
Isn’t that unfair in the capitalist world?
Young employee: Sir, I think we're selling these boats back to the same rum runners, so they can use all over again.
Boss to young employee: You like your new job son?
Young employee: Yes sir
Boss to young employee: Then you give your mouth a rest!
Shav - Of course it's a cartel! It's little different than the diamond cartel. Unfair in the capitalist world? "Fair" is whatever rich people say it is. Surely you must know that.
13 Apr 20
@mchill saidWe don’t all have to use and pay for diamonds in the way we do oil, it is probably true that if the US wasn’t an oil and gas producing country this cartel would have been strangled at birth.
Government auction during prohibition:
Young employee: Sir, I think we're selling these boats back to the same rum runners, so they can use all over again.
Boss to young employee: You like your new job son?
Young employee: Yes sir
Boss to young employee: Then you give your mouth a rest!
Shav - Of course it's a cartel! It's little different than the diamond ...[text shortened]... Unfair in the capitalist world? "Fair" is whatever rich people say it is. Surely you must know that.
-Removed-All countries having safe nuclear power is a long way off, even if we want to encourage all countries to engage in an industry that can provide the raw materiel for nuclear weapons, nuclear powered airplanes would be ok if you could ensure one wouldn’t crash anywhere at any time.
Air travel should be cut to a bare minimum and this lockdown is showing the business world just how little they needed those precocious air miles. No reason why we couldn’t ration flying for pleasure if we’re serious about cleaner air.
Airlines that collapse during the lockdown should not be supported by governments, we should be using this hiatus to look at way to suppress oil prices permanently.
13 Apr 20
@shavixmir saidWhere the hell were you when OPEC held back oil in tankers of our US coast and drove the price up big time?
The oil producing countries have agreed to produce 10% less oil in May and June, to crank up the price.
Isn’t that cartel forming?
Isn’t that unfair in the capitalist world?
I remember it very well. Gas rationing. $1 a gallon (almost) back when gas was 30 cents or so a gallon.
That was early 70's