Saudi-led Opec Plus cartel decided to cut production by 2m barrels a day – the opposite of what Biden administration officials had pleaded with the Saudis to do. After the shock of that embarrassing announcement, which threatened to raise gas prices around the US midterm elections, Biden vowed: “There’s going to be some consequences for what they’ve done.”

I thought you liked the free market?

[–] jsdz@lemmy.ml 13 points 2 years ago (32 children)

That classic free market system where a cartel has regular meetings to set production levels to maximise their profits.

[–] ProxyTheAwesome@hexbear.net 10 points 2 years ago

welcome to monopoly capitalism, the inevitable end stage of free market systems

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