Re: [PEN-L] deep question

[soula avramidis]

>From an economist who worked in planning in one of the very x-socilaist state. in most vertically integrated oligopolies, the upstream to downstream trnasfer pricing is done arbitraraily and it reminds him of his socilaist plan. Transfer prices are set in no relation to market prices.

Michael Perelman <[EMAIL PROTECTED]> wrote:

Plausibility does not necessarily imply proof.


On Mon, May 08, 2006 at 10:25:42PM -0400, C Ruiz wrote:
> In a message dated 5/8/2006 9:43:57 P.M. Eastern Daylight Time,
> [EMAIL PROTECTED] writes:
> The most plausible explanation that I have read for the lack of refinery
> expansion is this: The majors expect continued "high" crude prices -- though
> not so high as now. As a result they expect slower long-term growth in demand
> for product
> Can you provide some concrete evidence of any "major" executive or CEO
> actually expressing these views and the date, please?
> CS
>
> No.
>
> Gene Coyle
>
> Well, in that case how is it "a most plausible explanation" ?
> CS

--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu

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