Is this the free market or is it a game of "chicken" by the big guys as they try to force out the competition? I know nothing, but couldn't this lead to turmoil in emerging nations that depend on that oil revenue?
Is this the free market or is it a game of “chicken” by the big guys as they try to force out the competition? I know nothing, but couldn’t this lead to turmoil in emerging nations that depend on that oil revenue?
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The answer is that these forces too have a part to play in any long term view of the market. It’s kind of like feeding the “wildlife”. Subsidizing keeps them from figuring out their own problems. We can screw up the balance, but we create unintended consequences when we do. The Robber Barons of the 19th century eventually screwed themselves out of power.