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93 comments on Do they have a 'responsibility' to supply us?

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LevinK on May 10, 2007 - 8:28pm Permalink | Subthread | Parent | Comments top

How does this preclude responsibility for the oil-exporting countries to manage their oil wealth the way we, the consumers want?

And I don't even want to enter in the argument that much of the reasons oil producing countries are ranking high in the misery rank-list are lying in the policy of the rich ones towards them. If they had any choices other than exporting oil, would they be wasting it for 10c a cup?

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PaulS on May 11, 2007 - 9:20am Permalink | Subthread | Parent | Comments top

Oh, on that part of the point, you're right - as with most business transactions, the trade will go forward, or not, insofar as both parties see it as being in their interest, or not. The gross negligence by most OPEC countries of their own economic development simply disconnects 'responsibility' from the discussion by rendering it irrelevant.

Edit: on second thought, maybe the OPEC governments do have some responsibility to their own people. Most have done utterly poorly at that. And those responsibilities will involve trade, because (1) autarky doesn't work well anyway, and (2) their past negligence has foreclosed other alternatives for the short to medium term.

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