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I can agree that it is theirs to sell, and therefore can set any price they decide. Coordinating with Iran and several other oil producing nations to drive the price up for the stated purpose (Yes he said this) of putting the U.S. out of business would never fly under U.S. law. Fortunately for them, they operate outside the auspices of U.S. law and therefore what he desires to do is legal by the letter of international law, if not counterproductive. That doesn't mean I have to think it is ok, or that it would be ok if it were done in the U.S..
That said, OPEC has always been smart enough not to hike the prices so high as to kill off the source of the cash that pays for the product they have. What Chavez proposes is actually counter productive to the world economy, but I doubt he really cares, despite the lip service he pays the the common man. Regardless, the wheels are seriously rolling and OPEC sees the writing on the wall. U.S. is now passing legislation to reduce imports of Oil by 20% within 10 years by use of non-fossil fuel based technology. It may take 15 -20 years, but soon enough, Saudi Arabia, Venezuela and Iran will be begging to join the ranks of Sane Society for lack of cash and lack of other natural resources. I suppose the FARC and Taliban will still be rolling fairly fat, as I don't see the demand for Cocaine and Heroine going down anytime soon.
Edit: Again, are you OK with the idea of Walmart rolling into a city and setting all the prices below cost for a year just to put every mom and pop business out of business? That is just good Free Market U.S. style business to you? Would the small companies that would be put out of business comparable to Nazi Germany if they complained about the success of Walmart? How about if every business in the south hung a sign up that said "Black People need not apply"? It is their business after all, they can hire who they want? Would the blacks then be comparable to Hitler?
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Last edited by cbwm; 03-06-2008 at 07:13 PM..
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