Thread: Food Crisis
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Unread 6 Jul 2008, 12:18   #27
Tietäjä
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Re: Food Crisis

Right. Did you read the links or did you just skip them again? Let me elaborate what I'm saying again and again. On one of them, there's an oil economics specialist stating that the oil prices would be 1/3rd of what they're now if the Iraq war didn't happen.

First, speculation is the symptom, the market mechanism, that adjusts the price, but it's not something that happens standalone in this magnitude. Now, while speculation can create a self-fulfilling prophecy, I doubt this speculation on the oil prices would have happened had the scenario with the Iraq gone different as by Dr. Salameh.


Now, if someone was to believe the opinion of a) a known controversional Princeton professor b) a UN/WTO oil economics specialist or c) an anonymous internet poster who isn't stating any references to his claims, which would be the pick? I'm going to link you another chief-economist text to read here.
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