Oil security

The Editor's Perspective and Market Hotline (OGJ, Oct. 14, 2002, p. 80) brings to mind the importance of maintaining standby infrastructure so that fluctuating demands and emergency scenarios can be properly accommodated. Providing such "excess infrastructure," particularly under the "earnings pressure" corporations currently experience, is a function the free market system cannot easily deliver. That presents a significant risk to a "free market."In the case of oil, normal "market" demand will be satisfied from "somewhere," be it Russia or the Kingdom of Saudi Arabia. There is no doubt that diversified sources of supply, like a broad customer base, should provide optimal commercial r...

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