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: goldstategop
Good to know they’re ignorant of economics at OPEC.OPEC gets it.
The reporter and his editor are the idiots
17 posted on
11/29/2014 5:02:09 PM PST by
FatherofFive
(Islam is evil and must be eradicated)
To: goldstategop
OPEC doesn’t have as much power over oil prices as everyone seems to think.
At the end of the day each OPEC member sells every barrel of oil they pump, regardless of quota. They want every *other* member to follow the so-called quotas.
31 posted on
11/29/2014 5:17:21 PM PST by
Tea Party Terrorist
(Why work for a living when you can vote for a living?)
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