Here We Go Again -- Either I'm Missing Something Or Folks Don't Understand America's Free Market Capitalism -- December 9, 2017

On December 2, 2017, I posted this "headline": "Our Government Has Not Agreed To Crude Oil Production Cuts" which was made by a contributor to Investopedia. I then made this comment:

What the heck? "Our government has not agreed to similar cuts." What? What does "our government" have to do with setting quotas or mandates for crude oil production.

Now, I see that same thinking again, via Twitter:

Am I missing something here? US shale industry leaders will do what is best for their company and their shareholders. That's not cheating. There is no "US-OPEC" mandating industry quotas. 

Dr. Alhajji was educated in Syria, Saudi Arabia, and the United States. He holds M.A. in Economics, and a Ph.D. in Economics from the University of Oklahoma, with a specialization in energy economics and policy. He received many awards including the Teaching Excellence Award and the Outstanding Mentor Award in addition to many prizes in woodworking.

What's most scary about Dr Alhajji's tweet is that the London-based Reuters oil analyst re-tweeted it and "liked" it.