Posts Tagged Oran
Market Intervention Follies…continued
Here at BOZONGO…we are not gloating over the news that oil prices dropped after OPEC announced production cuts. As this article from www. timesonline.co.uk proclaims, the market intervention/manipulation by OPEC could not keep prices from falling, nor will they in the future. OPEC member and other producers will maintain oil flows in an attempt to [...]
OPEC and the Folly of Market Intervention
The folly of market intervention by governments and monopolies can best be illustrated by that of OPEC. Although recently proposed cuts in production by OPEC members and non-OPEC producers like Russia will certainly raise the price of oil…at least temporarily…they have side effects that are contrary to the interests of those same producers.