Replies to post #357 on The Rising Influence of Rising Affluence

[Democritus_of_Abdera]

Dew, are you agreeing or disagreeing with my post?...

By stating that what I am referring to is the “classic Fallacy of Composition”, I presume that you are saying that I am making a fallacious argument by inferring that something is true of the whole from the fact that it is true of some part of the whole...

One can argue that in my post I made the inference that cut-throat competition is not good for the industry because it is not good for a particular company.... which I can see to be open to argument...

or, the converse inference that an appetite for profit is good for an industry because it is good for a company... which I doubt many would disagree with.

I also inferred that capacity constraint is not good for a company, but it is good for the industry... which is not quite a classic fallacy of composition as I understand the term.

Or, you might be generally agreeing with me by implying that the situation in the E&P Industry is that company’s are making the fallacy that what is good for them is good for the Industry (along the lines of “What is good for General Motors is good for the country.” .... an notable quote because as I understand it, it is a misquote from senate testimony where the CEO of GM actually said “What is good for the country is good for General Motors”).

By the way, although disagreeable, I profit more from disagreements than concurrences.