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April 06, 2006

Comments

Buying gold from any source increases demand and thus increases the price of gold, and higher gold prices encourage more mining operations.

No, it only increases the price of ethical gold. Imagine that a bunch of customers decide to only buy yellow and not green apples. Sure, it raises the demand for apples, but it doesn't encourage more farming of green apples, only yellow ones.
It seems like you are applying the fungibility-of-oil argument to a commodity that will no longer be fungible.

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