Several members of the oil producing nations wanted to cut production of crude oil supplies so prices can "stabalise". More from USA Today here...
This empahasises the duplicity of governments. Laws against collusion and price fixing for business, yet governments can do as they please.
The murmurings were that countries like Venezuela and Iraq want to "stabalise" the oil market. That means collude to get prices to incresae in case you did not realise it.
Seems cooler heads prevailed, but it just shows the depths governments will sink to in an effort to live a life of luxury off the taxpayer.
You might wish to dismiss this as governments in other countries, but we have comparable instances here with the oil industry.
As pointed out, "When gas was averaging $5.45 per gallon, government was getting some $1.83 per gallon in taxes while the station owner's are held to $0.44 and the distributor's to $0.33 respectively."
So price controls for business, but the sky is the limit for taxes.
If it wasn't so serious it would be funny when people are overheard suggesting government set up more agencies to "solve" problems governemnt action creates in the first place.
Governments; where collusion and price fixing doesn't matter. Go figure.
