Posted on 04/03/2023 9:49:44 AM PDT by Red Badger
Wayyyy back before the filthy Bidenoids took power, when we were energy independent, we didn’t have to concern ourselves as much with OPEC production cuts.
indeed.
https://www.eia.gov/petroleum/supply/weekly/pdf/highlights.pdf
Weekly Petroleum Status Report
U.S. crude oil refinery inputs averaged 15.8 million barrels per day during the week ending March 24, 2023 which was 437 thousand barrels per day more than the previous week’s average.
Back in the 70s I was laid up for almost a year after a bad traffic accident. I picked up A Milton Friedman book and got interested so for a year I read Economics- von Mises, Hayek, Ricardo and more, even Keynes though I found him unreadable. His paragraphs don’t hang together and his sentences would have got him Ds in old time English class.
Big Unionized Auto gets another EV bailout as expected...
The crown prince is helping Trump
That's because your brain be too structural raciss to feel socialism ...
The only way to understand Keynes is to only read the last sentence of each paragraph, accept his “conclusions” and ignore his argument. There was a theory extant when he was alive that he wrote it as a parody and the socialists and quasi socialists seized upon it because it seemed to justify their nonsense. Those last sentences were essentially unsupported by his argument and as English prose were nonsense. Incomplete sentences that run on for a page and the parts are inconsistent with each other. It makes a lot more sense to take Keynes’ work as that parody and when he was about to have a laugh he realized it SOLD and became then a Keynesian, himself. With all that acclaim he ran with it and the world got stuck with it.
To be candid, I have never managed to read any of his works because of the vast number of morons who enthusiastically endorse them.
Won’t these production cuts mostly not affect the oil price long term considering how many countries in OPEC cheat on their requirements? The oil is still there in the ground.
Same with his followers like Kenneth Galbraith. Lots of formulas and equations but the entire theory is bunk. It rarely addresses the question of the alternatives. According to Keynes break that bread makers window and create demand for glass. Never mind the bread maker could have used that money to re-invest in his own business. The faulty theory is meant to be masked by complex equations.
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Joe doesn't realize that pariah nation Saudi Arabia and the OPEC countries act in what's in their own best interest. Just think, leaders acting on self interest rather than on progressive ideology. He'll never understand it.
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