It is a political measure rather than economic principles in the petroleum industry
The trade talks have made the consent or restriction of production capacity among the members of the Organization of the Petroleum Exporting Countries
OPEC's objective is to co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry.
2006-10-17 18:32:43 補充:
Like diamond mining in Africa, petroleum is also the product of scarcity that must be conserved in order to support price under the mechanism of supply and demand, and to prevent extreme exploitation of the mineral resources
2006-10-26 20:11:32 補充:
According to WWF, our earth will be ended with no natural resources after 5years due to extreme exploitation by human. High price could act as strong sign to consumers not to wasting.
My assumption considers sustainable development of our life, earth and econ