(quoted from post at 19:41:07 10/19/21) Gary: Yes, but the assumption behind the invisible hand of market forces determining prices is that there is free and open competition, and an absence of external forces on the market. These assumtpions aren't met right now. The fuels market in particular is highly influenced by both domestic and international politics *and* monetary policy--in both directions.
I am not justifying political influence, nor am I criticizing it. I am just pointing out that the price of a market good such as fuel is more complicated than the simple rule of supply and demand taught in economics 101.
(quoted from post at 11:58:03 10/20/21) Dave, as it should be. Unfettered capitalism begets things like high insulin prices. Thank intervention here for giving us the cheapest gas in the world. gm
(quoted from post at 11:14:17 10/20/21)(quoted from post at 11:58:03 10/20/21) Dave, as it should be. Unfettered capitalism begets things like high insulin prices. Thank intervention here for giving us the cheapest gas in the world. gm
The US isn't even remotely close to the cheapest gas in the world. Not even in the lower 1/2. The most expensive gas in the world is $9.94 per gal and the least expensive is $0.15. Thats right, 15 cents a gallon.
(quoted from post at 17:43:43 10/20/21)
Bret, Funny you didnt mention the name of the country with the cheapest gasoline. Are your bags packed to love there? By my fast and dirty count, the US is 50th. Starting at Indonesia at 30th, the price goes past $3. I sure would not wanna live in any of those cheap gas countries
(quoted from post at 05:41:52 10/21/21)(quoted from post at 17:43:43 10/20/21)
Bret, Funny you didnt mention the name of the country with the cheapest gasoline. Are your bags packed to love there? By my fast and dirty count, the US is 50th. Starting at Indonesia at 30th, the price goes past $3. I sure would not wanna live in any of those cheap gas countries
Doesn't matter who has the cheapest, nor do I desire to live anywhere else. The point is the US most certainly does not have the cheapest and that is certainly the result of "intervention", eg- gov't taxes, regulation, etc. The chart I checked had 179 nations. You are correct that I was wrong in stating the US in not in the bottom half, I put 1/2 when I intended to put 1/3. That was my mistake in lousy proofreading, kinda like you did in that last post about my math, or at least thats what I think you intended to say. The 1/2 point is at $4.885, 1/3 is 3.256. The US is at $3.67.
This post was edited by Bret4207 on 10/21/2021 at 05:44 am.
(quoted from post at 12:22:12 10/21/21)(quoted from post at 05:41:52 10/21/21)(quoted from post at 17:43:43 10/20/21)
Bret, Funny you didnt mention the name of the country with the cheapest gasoline. Are your bags packed to love there? By my fast and dirty count, the US is 50th. Starting at Indonesia at 30th, the price goes past $3. I sure would not wanna live in any of those cheap gas countries
Doesn't matter who has the cheapest, nor do I desire to live anywhere else. The point is the US most certainly does not have the cheapest and that is certainly the result of "intervention", eg- gov't taxes, regulation, etc. The chart I checked had 179 nations. You are correct that I was wrong in stating the US in not in the bottom half, I put 1/2 when I intended to put 1/3. That was my mistake in lousy proofreading, kinda like you did in that last post about my math, or at least thats what I think you intended to say. The 1/2 point is at $4.885, 1/3 is 3.256. The US is at $3.67.
This post was edited by Bret4207 on 10/21/2021 at 05:44 am.
Bret,
It definitely does matter. You know it, too, because you did not mention it. The US had far and away the cheapest fuel of any developed nation with a working government and economy. You can massage the numbers any way you want to try and deny that, but that is the fact.
Wanna pay 15 cents for gasoline? Move to Venezuela. Wanna pay less than $1? Move to Iran or Syria. Wanna pay $1 more than we do? Move to China. Wanna pay $10? Move to Hong Kong.
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