RE: SV: SV: [OPE] The genocidal implications of biofuels

Date: Thu Jul 24 2008 - 14:54:45 EDT

> Here is a brief analysis by a prominent Indian economist, Prabhat Patnaik:>> In the case of oil prices it seems like he was right, given the sudden > fall of the price of a barrel of oil.
Hi Dave Z:
Interesting article (thanks), but I don't quite follow your
conclusion above: what, if anything,  does the short-term 
fall in the price of barrels of  crude oil tell us about Patnaik's
His main point seems to be that:
"more and more wealth-holders are shifting from dollar-denominated 
assets to claims on oil as a means of holding wealth. And this 
accounts for the phenomenal rise in the price of oil".
Why should this be the case, though?  Why hasn't the shift been 
from US dollars to Euros, gold, natural gas futures, et al?
In solidarity, Jerry

ope mailing list

This archive was generated by hypermail 2.1.5 : Thu Jul 31 2008 - 00:00:10 EDT