Thursday, January 8, 2009

News flash: you can't dictate a higher price than what people are willing to pay in a free market.

Russia is being reminded that the world isn't a command economy. If no one is willing to pay what they want to charge for their natural gas, they won't be selling their natural gas. Yes, it hurts Europe, but Russia's stubbornness in pricing (likely because their economy's hurting) is going to hurt them far worse in the long run.

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