tag:blogger.com,1999:blog-11110174.post9217778377327918590..comments2024-02-26T23:17:11.132+13:00Comments on Blessed Economist: Oil Prices (1)Ron McKhttp://www.blogger.com/profile/03989126812730583009noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-11110174.post-28808788674782963722008-12-14T09:02:00.000+13:002008-12-14T09:02:00.000+13:00GeneYou are missing the point. This has nothing t...Gene<BR/>You are missing the point. This has nothing to do with cartels. <BR/><BR/>When the price of a good falls dramatically, all producers have to decide how to respond. If the good is not perishable, most clear-thinking producers would reduce production and wait to they could get a better price. Governemnt producers are unwilling to do that that, because they think short term and they love to spend.<BR/><BR/>Producers have to make these decisions, whether they are in OPEC or not. I only used OPEC as an example, because they "sort of" make their production decisions public.Ron McKhttps://www.blogger.com/profile/03989126812730583009noreply@blogger.comtag:blogger.com,1999:blog-11110174.post-17556324495162650422008-12-14T04:02:00.000+13:002008-12-14T04:02:00.000+13:00You do know that cartels almost NEVER work.Oh, fo...You do know that cartels almost NEVER work.<BR/><BR/>Oh, for a very very short time there will be some effect. But in the end. NOGenehttps://www.blogger.com/profile/16540894657933632541noreply@blogger.com