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re: Texas economy is cratering

Posted on 3/30/15 at 11:02 am to
Posted by Tommy Wayne
Member since Apr 2009
208 posts
Posted on 3/30/15 at 11:02 am to
quote:

Oil companies don't determine the price of oil


Not on paper. You're right.

quote:

the market does


Sooo, you dont think these companies has any affect on this "market" you're speaking about?? Im totally sure there is no manipulation going on.
Posted by TheIndulger
Member since Sep 2011
19239 posts
Posted on 3/30/15 at 12:10 pm to
quote:

Sooo, you dont think these companies has any affect on this "market" you're speaking about?? Im totally sure there is no manipulation going on.



Oh, they do, alright. Their overproduction is causing the price of oil to tank. They could all stop producing to drive the price of oil up, but then they wouldn't make money and go bankrupt. See how it works?
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