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There is no justification for the current rise in price!

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There is no justification for the current rise in price!

Unread postby Muhammad_al_Sahhaf » Mon 09 Jun 2008, 17:31:09

"There is no justification for the current rise in prices!"
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$this->bbcode_second_pass_quote('', 'E')arlier Monday Iyad Madani, Saudi Arabia's Information and Culture Minister, said the kingdom will call for a summit between oil producing countries and consumer nations to discuss rising energy prices.
"There is no justification for the current rise in prices," he told the Associated Press.

Truth
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Re: There is no justification for the current rise in price!

Unread postby burtonridr » Tue 10 Jun 2008, 17:49:25

Whatever! :lol:

Does he understand how supply and demand works?

If I have 10 barrels to sell and I have have a demand in place for 15 barrels. The price will be bid up to the highest bidder(s) until there is only demand for 10 barrels.

demand will always match supply through price competition in a free market.

True some of the hike is emotion, but the fundamental price has increased dramatically with rising demand and leveling supply.
Tired of high gas prices? [smilie=BangHead.gif] Then stop driving to work, duh..... Learn to Work from home

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Re: There is no justification for the current rise in price!

Unread postby cowuvula » Wed 11 Jun 2008, 02:53:32

Scary to think he does not even understand that.

We are definitely in a bit of a twit.
Be ready...
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Re: There is no justification for the current rise in price!

Unread postby Muhammad_al_Sahhaf » Wed 11 Jun 2008, 08:09:56

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Re: There is no justification for the current rise in price!

Unread postby kpeavey » Wed 11 Jun 2008, 09:02:51

Iyad Madani is:

( ) a complete idiot who is out of touch
( ) a government propaganda puppet
( ) a modern rock band
( ) I like pie
If you want a picture of the future, imagine a boot stamping on a human face--for ever."
-George Orwell, 1984
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twenty centuries of stony sleep were vexed to nightmare by a rocking cradle, and what rough beast, its hour come round at last, slouches towards Bethlehem to be born?
-George Yeats
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