In [6012] Rakesh quotes from Chibuzo Nwoke's Third World Minerals and Global Pricing (Zed, 1987): > "The actual world market price of crude oil is thus governed by the > individual price of coal production and the great demand for coal in the > world energy market <snip, JL> This reward, or increasing > shares of absolute rent, could be obtained if the OPEC organization > priced oil just below the price of the cheapest substitute for oil, that is, > coal. Coal is not a substitute for oil. E.g. oil-heated factories and homes can not converted to coal unless there are new furnaces and exhaust systems; cars, trucks, boats, and ships powered by gasoline or diesel oil can not be powered with coal; kerosene lamps and stoves, etc. can not be powered by coal; plastic and fiberglass products, which are oil-derivatives, can not be derived from coal; etc. In solidarity, Jerry
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