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Reply #71: No that's not what I said at all [View All]

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jdp349

(372 posts) Send PM | Profile | Ignore

Fri Mar-04-11 07:55 AM
Response to Reply #57

71. No that's not what I said at all

you obviously have no formal background in economics and thus this discussion is not worth my time. Monopolistic competition means that OPEC can artificially drive the price up somewhat, but cannot set the price to its true profit maximizing rate. They have SOME monopoly power, they are not a monopoly.

$40 a barrel profit? From what? Just buying oil futures? Again you're confused and have no idea what you're talking about.

I'm out.

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