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tommy Eternal Order Devil's Island 16544 Posts |
This is all we need.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.
Tommy |
Mr Salk Special user Tied to 568 Posts |
Cheap gas. Hurray?
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landmark Inner circle within a triangle 5194 Posts |
Interesting, and potentially scary. But I think his most dire warnings are overblown.
Wouldn't the surplus be hoarded until prices rise again? For the oil producers, once the "oil in the pipeline" is sold, they will cut production and raise prices to cover their losses, no? While the demand for oil may be lowered, there is always a certain guaranteed demand, military and so on. The oil producers will make their profits back on that remaining demand--if they can weather the losses. And if one particular company cannot ride it out, another one will step in and take over the profits. For a while, at least, the oil producing countries will collude again, rather than compete--because they saw how disastrous the Saudi-Russia competition ended up. And then, eventually, the collusion will be broken--it will be too tempting not to betray the other companies/countries with lower prices. And the whole cycle of boom and bust--and resulting wars-- will begin all over again. This is pretty much the way the world has worked for the last century and more under global capitalism. Meanwhile, as always, the workers will be screwed, because they cannot readjust as quickly as capital can. They can't just pick up and move to another job of the same kind easily. But I don't think profits and what passes for "the economy" (i.e. the stock market) will be affected over the long run.
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Dannydoyle Eternal Order 21219 Posts |
It is not as simple as you think.
Danny Doyle
<BR>Semper Occultus <BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell |
landmark Inner circle within a triangle 5194 Posts |
Yes, certainly, I'm thinking in very broad strokes, and things are so intertwined that no one can predict all the ramifications. What do you see as some of the complicating factors?
Click here to get Gerald Deutsch's Perverse Magic: The First Sixteen Years
All proceeds to Open Heart Magic charity. |
Mr Salk Special user Tied to 568 Posts |
Quote:
On Apr 21, 2020, landmark wrote: It's impossible to estimate the geopolitical ramifications of an ancient and oppressive fundamentalist culture of unfathomable-wealth losing their only resource.
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Dannydoyle Eternal Order 21219 Posts |
Start with there is only so much space to hoarde oil.
Like it or not the industry creates jobs. At under $30 per barrel the companies go out of business. Like it or not America is a net energy exporter. American companies out of business and oil back in the hands of Opec is frightening. As I said it is a bit complicated. Plus subsidies for wind and solar are not as easy to come by when oil is brought in. I don't say one side is right or wrong. Only that it is complicated.
Danny Doyle
<BR>Semper Occultus <BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell |
tommy Eternal Order Devil's Island 16544 Posts |
Perhaps the virus has caused the oil price to go batty.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.
Tommy |
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