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To: MNJohnnie

I think you are mistaken about how the economics of oil and how the US receives oil.

Don Rumsfeld interview with Al Jazeera:

Rumsfeld: There is no master plan. We don’t run around the world trying to figure out how other people ought to live. What we want is a peaceful region.

You used the word black gold. I’ve seen the same kinds of articles and suggestions that that’s the case.

You know, I’ve been around economics long enough to know that if somebody owns oil they’re going to want to sell it. If they want to sell it, it’s going to end up in the market. And it doesn’t matter if they sell it to Country A or Country B. If they sell it, it’s going to be in the market and that’s going to affect the world price. Money is fungible and oil is fungible. This is not about oil, and anyone who thinks it is, is badly misunderstanding the situation.

Al Jazeera: But it depends on who controls the oil.

Rumsfeld: Anyone who controls it wants to sell it. It doesn’t matter. That is not a problem. If you own — If a bad person owns the oil and a good person owns the oil — different oil — and the bad person doesn’t want to sell it to you but the good person is willing to, it doesn’t matter because then the good person sells it to you. You’re not going to be buying this person’s oil but this person’s going to be selling it to somebody else. And the world price will be the same. Everyone will have the oil they need. They aren’t going to horde it, they’re not going to keep it in the ground. They need the money from the oil. So it’s not a problem.


39 posted on 12/15/2007 10:59:00 AM PST by traviskicks (http://www.neoperspectives.com/Ron_Paul_2008.htm)
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To: traviskicks; MNJohnnie
That was a good comeback to a rather stupid question.

Next, you'll have to try and explain the reason we can't become energy-independent in five years as Huckleberry would like to do. Some people would rather emote than think.

56 posted on 12/15/2007 11:42:39 AM PST by logician2u
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