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Author Topic: Subsidizing oil (Ian)  (Read 1201 times)

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Subsidizing oil (Ian)
« on: September 05, 2009, 04:00:10 AM »

Ian stated that the military interventions in the Middle East are keeping down the price of oil.  This is a myth that causes people who otherwise view the interventions as bad to assume that they receive some benefit to having them over there.  This mercantilist belief tends to encourage support of wars.  Maybe certain oil companies wouldn't profit from that particular oil, but every oil consumer would benefit when the oil hit the world market.  The US military has actually slowed the flow of oil.  They have also destroyed resources that likely would have been used to produce more oil, as anything taken by the state keeps other wealth that would have come into existence from doing so. 

I believe that I heard Wayne also make this claim before.

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