[Marxism] Supply and demand?

[Shane Mage]

On Aug 1, 2008, at 9:42 AM, bauerly at yorku.ca wrote:

> If we accept that supply and demand are driving current oil prices  
> and that the
> increase in consumption of China and India are behind the increase  
> in demand.
> Than how does one rectify that with this:
> "a year-on-year drop in U.S demand of 1,103,000 barrels/day.

Conforming to general economic illiteracy, "supply and demand" is here  
portrayed as quantity sold, whereas it's only economic meaning  
pertains to the underlying schedules of quantity offered and sold at  
various prices.  "Speculative" demand is still demand and  
"speculative" [withholding or dumping] supply is still supply.

Shane Mage

"Thunderbolt steers all things...it consents and does not consent to  
be called Zeus."

Herakleitos of Ephesos