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Tuesday October 13th 2015

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That's what she said

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Libyan oil platform, wikipedia,

When oil prices are high, Americans like to say that the oil markets are broken, driven by speculators, detached from reality, driven by conspiracy. When prices are low, we do not have complaints about the oil markets. Then we say the “markets are working” as they are supposed to. In our minds the “real” price of oil is whatever we consider cheap.

Read the entire article at The Price We’re Willing to Pay for Oil – Room for Debate.

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