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Gas prices jump to over $4.00 a gallon. Praise Allah.

Cooky

Veteran Member
So you're saying that Saudi Arabia has the authority to establish and enforce "international law" and is "socialist" for setting the price of it's own exports? What?

OPEC
OPEC - Wikipedia
OPEC Dictates global oil prices on a global socialist scale. All oil barrels must be sold at the exact same price internationally.
 
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pearl

Well-Known Member
Interesting how the refineries always plan to close a few for whatever reason,
just in time for vacation travel1
 

Cooky

Veteran Member
I think It's sad that people don't talk about this more.

...Why do we listen to OPEC anyway? What happens if we don't? Why can't oil companies in Texas and California just sell oil at whatever price they want?
 

Father Heathen

Veteran Member
Well, the oil industry sure isn't free-market, when we are forced to sell at the price they tell us.
How exactly do they force non-members from undercutting them? Also, market manipulation, pricing fixing, monopolies, etc. occur due to a lack of regulation, not because of it.
 

Cooky

Veteran Member
How exactly do they force non-members from undercutting them? Also, market manipulation, pricing fixing, monopolies, etc. occur due to a lack of regulation, not because of it.

Good question! Here is an article I found on how this alien "cartel" controls global oil ,jncluding America's oil companies... https://www.econlib.org/library/Enc/OPEC.html

...But after reading the article, I'm still left wondering why we listen to them considering that the article suggests they have less influence than what they presume to have.

There is something weird going on here. I can sense it. It's as if the American Right has compromised free-market capitalism for some kind of "friendship" with these cartels (particularly Saudi Arabia).
 

Cooky

Veteran Member
It is far more of a monopoly than socialism. Price controls do not require socialism itself.

You're smart. Can you explain why the United States allows OPEC to have the power and influence that it does?

...Are we boosting the Arab economies like we did with China? On purpose?
 

Cooky

Veteran Member
It is far more of a monopoly than socialism. Price controls do not require socialism itself.

True, true... But when you think about the OPEC member states, They're all socialist. Venezuela..? In most Arab countries, it's free medical and free college.

So I think it is related to socialism.
 

Shad

Veteran Member
You're smart. Can you explain why the United States allows OPEC to have the power and influence that it does?

Actually the US flipped on this point. Once the US didn't consider OPEC would be willing to cut supplies for political reasons. When it did the US considered an invasion during the 73 oil crisis as per declassified files released in 2004. Instead the US used its economic power and outright bribery to get OPEC in the ME aligned with US interests. It is the primary reasons the rest of the planet even cares about the ME. Oil. Otherwise it would just be a backwater.

...Are we boosting the Arab economies like we did with China? On purpose?

In a way, yes. Fact is nations like KSA were backwaters of little importance until oil was discovered.
 
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Shad

Veteran Member
True, true... But when you think about the OPEC member states, They're all socialist. Venezuela..? In most Arab countries, it's free medical and free college.

KSA isn't socialist. Iraq isn't socialist, Kuwait isn't socialist, UAE isn't socialist, Nigeria isn't socialist. Iran isn't socialist. Having a social program does not make one socialist. It requires other policy and points of view to make that claim. For example is KSA giving ownership of the oil wells and reserve to the people or to those with Saud as their last name? It is the later.

So I think it is related to socialism.

For some nations it is as those nations are actually socialist.
 

Cooky

Veteran Member
Imagine my surprise when the conservative admits to being racist.

Oops..! :eek:
The cat's out of the bag.

...It's not illegal to hold such opinions and express them as such I hope. But yes, I see them as savages. Sometimes polite savages.
 

sooda

Veteran Member
KSA isn't socialist. Iraq isn't socialist, Kuwait isn't socialist, UAE isn't socialist, Nigeria isn't socialist. Iran isn't socialist. Having a social program does not make one socialist. It requires other policy and points of view to make that claim. For example is KSA giving ownership of the oil wells and reserve to the people or to those with Saud as their last name? It is the later.



For some nations it is as those nations are actually socialist.

LOLOL.. KSA doesn't give oil wells to anyone. 86% of oil revenues go to the Saudis people in the form of healthcare, education, desalination facilities and other infrastructure.
 
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