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<p>[QUOTE="fatima, post: 1329047, member: 22143"]The only way that Iran or any other individual oil producing country can raise the price of oil is to stop selling it. It defeats the purpose since oil might go up, but the country that made the move is selling less. OPEC was successful for many years because it was a cartel of countries that set prices, but since new sources have come on-line, namely Russia, the cartel doesn't have that much influence now. There are no shortages of oil so it's and even tougher thing to do. </p><p><br /></p><p>-----------------</p><p><br /></p><p>Inflation = increase in the circulating money supply, absolutely. Inflation /= price increases related to demand or shortages. People often get this wrong.[/QUOTE]</p><p><br /></p>
[QUOTE="fatima, post: 1329047, member: 22143"]The only way that Iran or any other individual oil producing country can raise the price of oil is to stop selling it. It defeats the purpose since oil might go up, but the country that made the move is selling less. OPEC was successful for many years because it was a cartel of countries that set prices, but since new sources have come on-line, namely Russia, the cartel doesn't have that much influence now. There are no shortages of oil so it's and even tougher thing to do. ----------------- Inflation = increase in the circulating money supply, absolutely. Inflation /= price increases related to demand or shortages. People often get this wrong.[/QUOTE]
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