Re: oil crises

[Carrol Cox <cbcox@xxxxxxxxx>]

Doug Henwood wrote:
>
>
>
> Over the last 15 years or so, the price of oil has varied from under
> $10 to over $30. It may be that the Ricardian/Marxian mechanisms you
> and Bina point to determine the center of gravity around which the
> market price fluctuates, but what accounts for this 300%+ range?
>

Isn't fluctuation in almost _all_ orders of existence (from the density
per cubic inch of microbes to the evolution of elephants et cet a matter
of contingency, with no general rule (account) possible? We still don't
possess a TOE.

Carrol

> Doug