Mr Recardo characterising the prices as mere information system to take or not to take in market is an unbridled free market view not warranted. If such view is taken,any monopolist or market dominator may fix and fleece the national as well as global consumers more than what the just market price or say Adams natural prices and get unjust enrichment. This is also a case for visible like OPEC and invisible cartels.



The most important material fact in the case Venezuela appears that it's production cost prices have exceeded the recent global free market oil price at $27 to 30 and became a victim nay the first bankrupt country totally depending on oil revenues.



Perhaps it pushed other countries including soudi and even Iran now as well as shale industry to disrupt the global market forces and conspire against the 'other world' to control market to increase their own collective revenue by manipulating prices in the process the Venezuela may also overcome the crisis.



The recession and inflation in venujula is perhaps a consequence of fallen oil prices and national revenue beyond its control and in fact the optimum global market prices must hover around 30 to 35/ barrel and any cartel price manipulation above that may amount excess profits to them so vessels at the cost global world and it may fuel and ignite another bout to already fragile financial markets by the aid of QE and near zero interest rates by Fed.

