DUG Canada 2012: Natural gas market is evidence that free markets work

摘要

While producers are understandably downbeat about oil and gas prices, the prices are a signal that the free market continues to work, said Peter Tertzakian, chief economist at ARC Financial Corp., during his lunch keynote at the DUG Canada 2012 conference in Calgary. "Sometimes people get a sense of denial about the free market and say that rules have changed. I used to follow the high-tech industry, and by the end of the '90s there were all of these statements that the old rules of economics were dead and we were in a new economy. Then the boom went bust and proved that the laws of economics must be respected," he said.