Can we get off this merry-go-round? Every time the spot price of oil doubles, the same old same old record gets played-- peak oil, shortages just around the corner, the US is applying pressure to the IEA according to unnamed sources.
You think this might have anything to do with the fact that IEA has just lowered its estimates for consumption of oil over the next decade, the run-up in oil prices is part of another asset-bubble, and traders want to keep the prices up based on the "bigger fool" theory of capitalist reproduction? You think? ----- Original Message ----- From: "Marv Gandall" <marvgand...@videotron.ca> To: "David Schanoes" <sartes...@earthlink.net> Sent: Tuesday, November 10, 2009 8:02 AM Subject: [Marxism] Re: Economists Seek to Fix a Defect in Data That Overstates the Nation’s Vigor (NYT) Matt Russo posted: http://www.nytimes.com/2009/11/09/business/economy/09econ.html?ref=business A widening gap between data and reality is distorting the government’s picture of the country’s economic health, overstating growth and productivity in ways that could affect the political debate on issues like trade, wages and job creation. ================= Maybe also oil... Key oil figures were distorted by US pressure, says whistleblower By Terry Macalister Guardian Monday 9 November 2009 ________________________________________________ YOU MUST clip all extraneous text when replying to a message. Send list submissions to: Marxism@lists.econ.utah.edu Set your options at: http://lists.econ.utah.edu/mailman/options/marxism/archive%40mail-archive.com
