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You really should think about this stuff instead of asking for an economics lesson that you won't understand in the end anyway.
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I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett Kavanaugh -
yeah, like that last lesson you gave me where you said that increasing productivity leads to lower wages and more unemployement?"Everything for the State, nothing against the State, nothing outside the State" - Benito MussoliniComment
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Is that what you were after? I would have thought with the title you were after a slew of degeneration with contemptuous responses to claims and counter claims.Originally posted by Agathon
It's an interesting idea. I had hoped for a reasonable discussion, but alas, the thread degenerated again...One day Canada will rule the world, and then we'll all be sorry.Comment
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The really loony part is the people claiming that high oil prices mean we will return to the stone age or that society will collapse. Democratic Underground is filled with these losers.
As oil gets more expensive things like coal gasification, thermal depolimerization, diodiesel, and ethanol will begin taking over more and more of places we currently use oil. Society will go on and oil will still be there but at a higher price.Try http://wordforge.net/index.php for discussion and debate.Comment
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The thing is that you have a very poor understanding of economics, but you can't come to terms with that, so you can't learn anymore.Originally posted by Lawrence of Arabia
yeah, like that last lesson you gave me where you said that increasing productivity leads to lower wages and more unemployement?I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Perhaps relevantly, I saw last week that they had put up signs advertizing "bio-ethanol" at some local gas stations here. No idea what the prefix "bio-" is supposed to indicate - isn't, in practice, all ethanol biologically produced? - but I suppose it might be a sign of times to come.Why can't you be a non-conformist just like everybody else?
It's no good (from an evolutionary point of view) to have the physique of Tarzan if you have the sex drive of a philosopher. -- Michael Ruse
The Nedaverse I can accept, but not the Berzaverse. There can only be so many alternate realities. -- ElokComment
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Must be why living standards have fallen steeply all across the West since 1800.Originally posted by Lawrence of Arabia
yeah, like that last lesson you gave me where you said that increasing productivity leads to lower wages and more unemployement?Why can't you be a non-conformist just like everybody else?
It's no good (from an evolutionary point of view) to have the physique of Tarzan if you have the sex drive of a philosopher. -- Michael Ruse
The Nedaverse I can accept, but not the Berzaverse. There can only be so many alternate realities. -- ElokComment
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I dont even know where to start . . .
1. The price of oil in practice is not determined by the most expensively produced oil - it is determined by a stock market
2. There are different types of oil
3. The benchmark is known as West Texas Intermediate, and is traded on the New York Mercantile Exchange (NYMEX)
4. Other oils included Brent (traded on the International Petroleum Exchange [IPE], and OPEC Basket). Brent usually trades a $1 more than WTI, and OPEC Basket at $2 more.
and here's the kicker . . .
5. in a perfect world, the price of oil would be priced NOT at the most expensive oil, but at the cost of producing THE MARGINAL BARREL.
6. As we all know, there is a cartel, and many barriers to entry (namely high entry costs to the market etc etc) that make this not a perfect system.
7. Which means that the price reflected on the stock market has NOTHING to do with the costs of production.
EDIT: reading comprehension problems. deleted.Last edited by Lawrence of Arabia; February 16, 2006, 16:46."Everything for the State, nothing against the State, nothing outside the State" - Benito MussoliniComment
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bio means that its 15% ethanol I think. E85 is the stuff that can run in many of todays cars without needing to change the engine."Everything for the State, nothing against the State, nothing outside the State" - Benito MussoliniComment
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He said:Originally posted by Lawrence of Arabia
So, what we have here is the idea that as the PRICE of oil increases, the DEMAND for oil ALSO increases. SIMPLY BRILLIANT. I had no idea that the demand curve was upward slopeing.
This is compounded by the effect of the increase in demand, which is also increasing the price as increasingly expensive oil is produced.Last edited by CrONoS; February 16, 2006, 16:46.blehComment
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dpLast edited by Kidlicious; February 16, 2006, 16:55.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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EDIT 2: right, the post got changed again grrrr.
Last edited by Lawrence of Arabia; February 16, 2006, 16:48."Everything for the State, nothing against the State, nothing outside the State" - Benito MussoliniComment
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I think Kid is saying increasing demand and increasing production costs are both simultaneously driving up the price.Why can't you be a non-conformist just like everybody else?
It's no good (from an evolutionary point of view) to have the physique of Tarzan if you have the sex drive of a philosopher. -- Michael Ruse
The Nedaverse I can accept, but not the Berzaverse. There can only be so many alternate realities. -- ElokComment
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Yes, thank you.Originally posted by Last Conformist
I think Kid is saying increasing demand and increasing production costs are both simultaneously driving up the price.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Ok, I'll edit that out."Everything for the State, nothing against the State, nothing outside the State" - Benito MussoliniComment
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