Wednesday, August 31, 2011

Wheat and Oil

~Luke 16.5-8 So the shrewd manager called in each one of his master’s debtors. He asked the first, ‘How much do you owe my master?’
“‘Nine hundred gallons of olive oil,’ he replied.
“The manager told him, ‘Take your bill, sit down quickly, and make it four hundred and fifty.' . “Then he asked the second, ‘And how much do you owe?’
“‘A thousand bushels [about 30 tons] of wheat,’ he replied.
“He told him, ‘Take your bill and make it eight hundred.’
“The master commended the dishonest manager because he had acted shrewdly.

If my calculations are correct 900 gallons of olive oil weigh about 6,840 pounds. I wonder why the price of 6,800 pounds of olive oil can be reduced by 50% while the price of 60,000 pounds of wheat can only be reduced by 20%. I would have thought the oil is more precious, therefore less likely to have a steep reduction in price. Hmmm.

Anyway, both the wheat and the oil appear to be commodities which are dealt with in large quantity.

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