Rand Paul
π€ SpeakerAppearances Over Time
Podcast Appearances
You either make a profit here orβ¦
I think it's like almost like asphalt.
It's either a lot of it's heavy, crude, I think.
I don't know the details of which kind of oil they have.
But I think there probably are some technological problems.
But I think there's β I think it's easy to make the argument that they're not hitting their maximum efficiency with the current socialist government.
Chemicals to break it down.
And so there may be more difficulty than Saudi Arabia.
But I think also the system, you know, so when you look at Venezuela and you look at what happens under price controls, you need prices to go up and down based on demand because if you don't, you have shortages.
If you set the price too low and I'm a manufacturer, I'm not going to sell it for that.
So you also can get shortage.
If you set the price too high, then it just sits on the shelf and a black market develops.
There was a story behind the Iron Curtain.
A guy goes in a store, and he says, oh, are you the store that doesn't have any eggs?