When market forces play out and capitalism does what capitalism does, make money, people stretched to what they feel comfortable paying to live scream “Ouch!”
How dare those people who own the oil fields charge what the market will pay? I mean when 150 million middleclass Chinese become 300 million middleclass Chinese and want to live the middle class life, how dare they bid up the price of crude oil for their 600 million beautiful and satisfying cars and SUVs?
Buying and paying for what you want is the middle class way of life whatever your ethnicity, color, religion or nation of origin.
So, those middle class Chinese and Indians and booming capital market people want what we want. And; they can pay for it. When you auction off resources, those who can pay the most usually get the resources.
What we’re seeing is capitalism in action. Capital is going where there is money to be made. If I want the gas, I pay the price. So does everybody. Sniveling about it helps nobody.
John