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Jake talked about the US Navy (and not Texaco) keeking the sea lanes open. The analogy is that just like keeping the lanes open is a benefit to the power that keeps them open, setting prices as an oil exporter also has a benefit for the domestic industry.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Sun Mar 30th, 2014 at 06:15:29 AM EST
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