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Where did you study economics, FW?
Sorry, my good reader, I'll stand by Dr.. Sowell against you on anything concerning economics, unless your resume' and education can match his. Here's Dr. Sowell's resume', properly called a Curriculum Vita: http://www.tsowell.com/cv.html Here's an overview of his work: http://www.tsowell.com/.
Your credentials, sir?
posted by
WriterofLight
on May 10, 2006 at 7:25 PM
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Supply & Demand in Oil is Urban Legend ...
OPEC is a cartel, and the normal rules of supply and demand do NOT apply in this model. My guess is that most of the oil ministers in OPEC learned their monopolistic price fixing schemes at Harvard or Yale. The oil companies have no incentives for the price of gasoline to go down.
posted by
fwmystic
on May 10, 2006 at 7:11 AM
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