[Marxism] how are (oil) prices set?

Joaquín Bustelo jbustelo at gmail.com
Tue Jul 8 11:52:10 MDT 2008


Please hold off on commenting on the post. I hadn't even finished the
first draft when the google mail web interface betrayed me and sent it
on. I asked Louis to delete is but I think it got out first. But as
for your immediate question 1 barrel of oil doesn't equal one barrel
of oil. In particular, you cannot refine sour. heavy crudes in a
refinery set up to handle light, sweet crude.

I'll try to finish the post today, but no promises...


On Tue, Jul 8, 2008 at 1:35 PM, Steve Palmer <spalmer999 at yahoo.com> wrote:
> Good stuff ... but ??truncated??
>
> 1 barrel of oil does not ... what?
>
> Steve
>
> --- Joaquín Bustelo <jbustelo at gmail.com> wrote:
>
>> Despite the crocodile tears their CEO's shed in front of congressional
>> committees about refinery and retailing margins having been squeezed,
>> clearly these companies are profittingly tremendously from the supply
>> squeeze and are also quite likely to be in a position to contribute to
>> bringing about the supply squeeze.
>>
>> In investigating the supply squeeze, it is especially important to
>> remember that 1 barrel of oil DOES NOT
>>
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> "I study a lot. That is one of the responsibilities of every revolutionary." Hugo Chavez.
>
>
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