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I don't think the US is the least efficient producer of oil. I should have referenced that as being the "assumption" behind rent-- that the commodity exchanges at its value, which is above its cost price, that market price works to allow the least efficient producer the necessary profit for reproduction, with the all other more efficient producers in effect paying tribute to the land, or resource, owner. Regarding the specific designation of the US as the least efficient, but still socially necessary producer, I believe it is Cyrus Bina, who has done some excellent analysis of rent amd oil, who describes the US as the least efficient, or least productive oil producer. ----- Original Message ----- From: "Anthony Boynton" <anthony.boyn...@gmail.com> To: <sartes...@earthlink.net> Sent: Saturday, September 25, 2010 7:24 PM Subject: [Marxism] Is the least efficient producer of oil the US? ________________________________________________ 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
