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The market is efficient, but only on the long run. People making decisions like this make the market efficient by storing oil when it is cheap (or when it appea
by barney54 11y ago
The market is efficient, but only on the long run. People making decisions like this make the market efficient by storing oil when it is cheap (or when it appears to be cheap).
- s73v3r 11y agoI fail to see how deliberately not doing something with a resource makes anything more efficient.
- JshWright 11y ago"Efficient" has a very specific meaning in this case. https://en.wikipedia.org/wiki/Efficient-market_hypothesis https://en.wikipedia.org/wiki/Efficient-market_hypothesis
- jeffcoat 11y agoIt's obvious that moving oil in space helps, right? You move the resource from a place it's relatively plentiful to a different place where oil is relatively scarce. Say, from the Persian Gulf to Australia. The same thing is happening here: These ships are trying to move oil from a time when oil is relatively plentiful to a time when it's relatively scarce. It's riskier, but if they succeed, everybody wins: they make money, and they do it by lessening that future scarcity.