Bloomberg reports today: OPEC May Cut 1 Million Barrels in Cairo, Survey Shows
Economic simplist “XMARK” over at the Fark.com forums offers this quick ECON 101 to the OPECtards:
“Consumers: Oh crap! High prices! I’ll cut down on gas consumption!
prices lower…
OPEC: Oh crap! Oil is getting low! Cut demand! Raise price!
prices raise…
Consumers: Oh crap! High prices! I’ll cut down on gas consumption!
prices lower…
OPEC: Oh crap! Oil is getting low! Cut demand! Raise price!
rinse and repeat several times over
Consumers: Oh crap! High prices! Wait a minute, we don’t care any more because we’re all driving electric cars.
OPEC: Aw nuts.”
You’d think with all that oil money they could afford an economist, right?
Oh well, back to living in a tent and wiping with your hand, there, OPEC…
Hey – while there’s still time – somebody run out and take a picture of your crappy half-assed version of Civilization so you can show your grandkids what it looked like! (they’ll never believe it, but hey, it’ll make for a great story on the 1001st Arabian Night)