To: James H. Shott
When political events drive the price of oil it's not really supply-and-demand in action... it's speculation driving the market.
The law of supply and demand doesn't come into play until someone tries to buy a barrel of oil and can't get it.
2 posted on
03/08/2011 7:39:03 AM PST by
Oberon
(Big Brutha Be Watchin'.)
To: James H. Shott
7 posted on
03/08/2011 7:51:48 AM PST by
humblegunner
(Blogger Overlord)
To: James H. Shott
Never been supply & demand, intellectual infantile myth, it's command & control.
8 posted on
03/08/2011 9:50:56 AM PST by
de.rm
("Once is happenstance, twice is coincidence, 3 times is enemy action. Auric Goldfinger Let us prey)
To: James H. Shott
It takes oil and gas to run the machines that harvest the crops, fertilize the soil, transport the crops to the stores, fly the crops to foreign destinations etc. An increase in oil and gas prices means a decrease in everyday spending which leads to a weaker Economy which leads to layoffs etc. It is a catch 22, for every action there is an opposite reaction somewhere down the line the increase in the cost of oil will have an impact on everyday people in more ways than one.
To: James H. Shott; Entrepreneur; tubebender; mmanager; Fiddlstix; Fractal Trader; FrPR; ...
10 posted on
03/08/2011 4:21:56 PM PST by
steelyourfaith
("Eternal vigilance is the price of liberty." -- Wendell Phillips)
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