If the price is too low and fields stop being exploited because they're unprofitable, you reduce the volume produced each day. That means there's scarcity with a low price, and you're back at trying to switch en energy source because you just can't get oil.
That moves prices upward, because people are willing to pay more, but increasing production is not like turning the faucet in your home. It takes time. This is the instability of oil production that OPEC tries to prevent, to keep the world hooked on readily available just cheap enough oil.
In a free market "scarcity with a low price" is a contradiction. If there's scarcity the prices will be high, not low. And nobody's going to be reducing production if the prices are high.
> instability of oil production that OPEC tries to prevent
First of all, if the goal is to prevent instability OPEC is doing a terrible job. Secondly, a cartel is not needed to prevent price instability, as demonstrated by the hundreds of other commodity markets around the world which are not controlled by cartels engaging in price fixing schemes.
As with any cartel, the purpose of OPEC is to maximize profits for its members, artificially fixing the price of oil at a level higher than what it would otherwise be in a free market not controlled by a cartel. Price stability is a side effect of that, not the goal.
> First of all, if the goal is to prevent instability OPEC is doing a terrible job.
I mentioned this upthread, the instability OPEC is trying to prevent is civil unrest from not being able to fund their social programs and governments. They need a price that puts them in the black and the rest of the world will pay. If it was a free market the fracking boom would still be raging and oil would be $30/bbl. Many gulf nations would fall apart if oil was at that price for a long period of time hence the price manipulation. (I'm not sure how they got the frackers to ease up, some say many of the frackers were bought out by OPEC members and their wells capped but that's just conspiracy afaik)
Israel would object to aid and weapons flows into Gaza. It would be fine with Gazans leaving the Strip. The problem is there are currently zero takers globally for a significant Palestinian refugee population, in part, as other comments have mentioned, due to the history of Palestinian refugee populations in the Middle East. (To my knowledge, Palestinian Americans have been fine and productive members of society.)
More like refugees flowing out, which Egypt doesn't want to deal with.
The Palestinians didn't help their cause with Yasser Arafat's Black September uprising in Jordan. Then they topped that up with strong support for Saddam when he invaded Kuwait. Like the ones in Kuwait were literally betraying Kuwaitis to the Iraqi troops.
Oh, and did I forget Lebanon? They literally fomented the civil war.
You're absolutely right; the Apple Silicon transition really lowered the years of support of their later Intel machines. The same thing happened with the G5 machines, and the last Motorola 68000 Macintoshes in the early 90s.
You're decrying this supposed issue, that multiple countries are all copying one another for legislation. You've repeated this multiple times in these comments.
And yet, after all this, you're not interested enough to remember who's behind this important issue for you. If someone really cares they should get informed.
> you're not interested enough to remember who's behind this important issue for you
You're demanding that others spoon feed you peer reviewed evidence that water is wet. As you say, if you really care you should expend the effort to inform yourself. I myself have no need at present for the hazily remembered details. The only thing at issue in the here and now was the absurd claim that there's no centralized lobbying effort involved.
> if you really care you should expend the effort to inform yourself.
I don't care. Unlike you, I am sufficiently informed about how legislatures around the world operate to know that coordination of this nature is common, anodine, and the way they have enshrined a global economy that has unlocked unfathomable wealth.
Hey let's make a very versatile laptop with tons of options for consumers, and let's not offer the other Standard Canadian French keyboard, let's just have the old one Windows forces on people.
People age and change; Jony Ive overstayed his tenure at Apple, through no fault of his own. Cook, not being a product guy, kept Ive with massive incentives. Build Apple Park, take care of software, here's a bunch more stock. That led to very misguided products. Laptops without MagSafe. Ever so thin phones for no benefit. A pen that charges in the most insane way.
Ive should have left shortly after the death of Steve. He was creatively spent at Apple.
That moves prices upward, because people are willing to pay more, but increasing production is not like turning the faucet in your home. It takes time. This is the instability of oil production that OPEC tries to prevent, to keep the world hooked on readily available just cheap enough oil.
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