Quote:
Originally Posted by bigpatsfan
So can we all agree that drilling for more oil is not the answer?
My major point is even if we discovered enough oil here in the US to sustain our needs, we would still be paying Market pricing. Meaning unless the US government goes back to regulating the oil industry the price of gas is going to be whatever the Worldwide Market can handle.
The US Government broke up Standard Oil due to its monopoly of oil…. Jump forward a hundred years and you will see that the modern US has allowed oil companies to consolidate (Mobil and Exxon) and removed most of the oil companies restrictions. Should we be surprised that as a result oil is as expensive as it is?  |
The events you refer to definately were impactful. Having more oil would be a great thing and if it came from our property it would be even better (IMHO).
However, I believe the price swings are influenced more by market manipulaters or speculation and not supply and demand. The oil industry, gas refineries, and delivery companies are heavily regulated and can't do anything without fed or state interaction.