[Marxism] how are (oil) prices set?

[S. Artesian]

Well that was helpful.  I'll be sure to let IEA know your thoughts and your 
evaluation of their idiocy.  But for the record, IEA does show consumption 
exceeding supply, not by much, in 2007.  But then again, they're idiots.

Now for those who want to talk about Marxist "economics,"  the first thing 
we have to make clear is that capitalism doesn't produce 5 cars when 6 
people want to buy cars, it produces 5000 cars and then reproduces the need 
to buy as many as possible until overproduction in its various forms throws 
a wet blanket over the point of the whole escapade, that point  being called 
profit.

But I believe you were the one claiming that demand has outgrown supply. 
IEA's supply numbers are production numbers.  What numbers were you using 
that indicated that demand, or daily consumption, was outgrowing daily 
production, and that there was an unusual acceleration in the rate of growth 
of oil demand/consumption?



----- Original Message ----- 
From: "Joaquín Bustelo" <jbustelo at gmail.com>
To: <sartesian at earthlink.net>
Sent: Tuesday, July 08, 2008 6:29 PM
Subject: Re: [Marxism] how are (oil) prices set?


> On Tue, Jul 8, 2008 at 5:56 PM, S. Artesian <sartesian at earthlink.net> 
> wrote: