To: blam
On Thursday OPEC leaders agreed not to reduce global oil output, thereby increasing the price of the commodity. We need to increase the intelligence of reporters.
11 posted on
11/29/2014 4:55:31 PM PST by
FatherofFive
(Islam is evil and must be eradicated)
To: FatherofFive
Lowering the price of the commodity.
You reduce production to increase the price of a commodity by making it scarcer and driving up demand for it.
Good to know they’re ignorant of economics at OPEC.
14 posted on
11/29/2014 4:57:13 PM PST by
goldstategop
(In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
To: FatherofFive
Very clumsy wording for sure. I think he had the idea right but expressed it poorly.
Reducing output would have increased prices, if they had done it, which they didn’t. :=)
40 posted on
11/29/2014 5:22:44 PM PST by
Bob
(Violence in islam? That's not a bug; it's a feature.)
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