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:: MAX BLACK ::

"Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience." --C.S. Lewis

"The Swiss pocket knife of conservative thought on the web..." - Eli Kardrakian

"Bookmark Max and dump your subscription to the newspaper; if you don't have a birdcage you really don't need it anyway..." - Shirley St. James

:: Monday, May 31, 2004 ::

Don't skip Carnival of the Capitalists hosted this month by Small Business Trends. Otherwise, you're likely to miss an interesting article like this on the economics of oil production. Excerpt:

However, a new force of demand has come into play in the last year, a huge new factor: investment banks. Investment banks, particularly in the states, have realised that (by and large) oil is an upwardly mobile commodity. As such, they have started purchasing huge amounts of futures while also shorting the commodity, which (apparently, maybe an expert can explain this better) has the net effect of putting upward pressure on the prices... To the point that OPEC can no longer actually control the price.

RTWT [>]

:: Max 9:53 AM [+] ::
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