On: Consumer prices rose 8.5% in March – highest since 1981

[wiz21c]

> Limiting the production of oil in any sense is going to increase the price.

That's a fallacy. If you limit the production, then you have less oil. The fact that the price increase is due to competing, individual, interests.

If you limit the production, limit the demand too. Doing it with the price is the worst possible way to do it because speculation turns on...

[brandmeyer → wiz21c]

Are you arguing for a command economy? Doing it with prices is the best possible way, because it empowers distributed decision-making.

[nukemaster → wiz21c]

This is extremely reductionist. It's like saying untying a balloon doesn't cause it to deflate, the deflation is caused by the random motion and collisions of the air molecules.