Quote:
Originally Posted by Dollarmansteve
If you think boards of directors get together and say "This year let's make 20 billion dollars" and then wave a magic wand, you're delusional. The fact that the oil industry will have a run of years with record profits does not mean they "chose" it, it means their business was situated to take advatage of good market conditions (ie high world market price for oil, strong domestic demand for oil, etc).
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You have a bunch of state run monopolies and corporate oligopolies controlling a necessity.
There is no wand waving but they have more influence over the prices in their own market compared to others.