Its crony capitalism when businesses seek to have monopoly by coordinating with governments but is it crony capitalism when businesses seek to have cartels with each other?
It seems a safe assumption to me there is price fixing in every part of the oligarchy. How hard is it to collude when there are only a few people in the room with the same interests?
The Biden administration sold the SPR to lower oil prices.
The Trump administration worked with OPEC to raise oil prices.
This is unfortunately normal for such a critical market.
As long as opec continues to use dollars they will get away with anything. As soon as they try to shake up the world order is when opec will cease.
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Its crony capitalism when businesses seek to have monopoly by coordinating with governments but is it crony capitalism when businesses seek to have cartels with each other?
It seems a safe assumption to me there is price fixing in every part of the oligarchy. How hard is it to collude when there are only a few people in the room with the same interests?
The Biden administration sold the SPR to lower oil prices.
The Trump administration worked with OPEC to raise oil prices.
This is unfortunately normal for such a critical market.
As long as opec continues to use dollars they will get away with anything. As soon as they try to shake up the world order is when opec will cease.
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