if you dont think for a minute that opec doesnt raise prices to a certain extent knowing full well that their cash cow will be indifferent to an extent, then you must think the saudis invented capitalism.
All you say is true but ignores the fact that there is willing ill-will and contempt for the rest of the world that OPEC feels and doing what is economically sound only strictly applies when it hurts their governments. They dont think twice about raising prices / limiting supply so long as it doesnt hurt themselves. They know they have china/asia in the on-deck circle.
