[Skybird]

OPEC is a cartel, so what did he expect. Of course they try to raise the price by reducing production. and there is no moral or legal position we could take to lecture them that they should not do it.

we should have started to adress OPEC's power in the early 70s, after the oil crisis. but no idiot around was willing to draw the consequences of that OPEC demonstration of power to the West. That now people like Brown just can imagine to call for rewgulation of all and everything, like Sarkozy wanted to overregulate finace markets as well in reply to the crisis, just reveals that the British stand on gaining power and control is not that much different to that of the EU as well: raise the governing elite'S adminstrational powers.

Back in the 70s and today, there is only one reasonable strategy that is future-safe and provides us with a longterm perspective of not being vulnerable to OPEC policies: and that is becoming independant from oil. This should be the top priority of longterm economic policies. It also means to kick major Western energy companies out of power so that they can no longer influence politics by lobbying so massively so that they can prevent this strategy, now and for the forseeable future as well.

Over-regulation is no good thing.

But too little regulation and leaving private economy business completely regulating itself, also is a bad thing. In a capitalist order, the clash between the selfish interests of the company and the socially responsible interests of the community that way is preprogrammed.