Record Profits For Exxon 10.7 B

[Imran Siddiqui]

Yes .

For all Lenin's faults (and I don't think of him as some horrid evil dictator... though he wasn't the Utopian Lord either), he was right on that statement.

[Kidlicious]

You do know that you are the egg, don't you?

[Arrian]

Naw. That's YOU. I'm a sausage. Imran's the pepper.



-Arrian

[Kidlicious]

Originally posted by Arrian
I'm a sausage.

Well this is true anyway.

edit:

[Kidlicious]

dp

oops I have some glare on my screen.

[Arrian]

Anyway, naw, the short-term economy is the egg. It's short-term pain for long-term benifit... something our country has been really, really bad about for a long time now. Look at our debt, ffs!

-Arrian

[Kidlicious]

Originally posted by Arrian


Anyway, naw, the short-term economy is the egg. It's short-term pain for long-term benifit... something our country has been really, really bad about for a long time now. Look at our debt, ffs!

-Arrian

Yeah, but recessions just increase debt.

[Spiffor]

Originally posted by KrazyHorse
Which is why, in the current global economic climate, the idea of "fixing" oil is ridiculous. There's no way to socialise a single, fungible commodity without socialising the rest of the economy as well

Absolutely. I don't argue that it is feasible in the here and now. And to me, it sounds quite pipedreamish even for the distant future.

However, non-market solutions are thinkable, even if not applicable. If the world (I mean: the countries that matter) encounters a serious shortage in an essential resource, then it'll have to think hard about how to solve the crisis, when the market mechanisms obviously show their inadequacy.

As for oil, I too think the prices aren't high enough in the west. However, ever since I went to Mali, I have seen the blow the country will take with ever higher oil prices. And I'm sure it's not the only poor country in that situation.

[Kidlicious]

Originally posted by Spiffor
Absolutely. I don't argue that it is feasible in the here and now. And to me, it sounds quite pipedreamish even for the distant future.

Usually high prices play an important allocation roll, but not always. Sometimes there is simple price gouging and that's when price controls do more good than harm. In this case, the high prices are atleast partly a result of the allocation of oil that is more expensively produced.