View Single Post
Old 12-22-2010, 12:01 PM   #8
firstdown
Living Legend
 
firstdown's Avatar
 
Join Date: Oct 2004
Location: chesapeake, va
Age: 60
Posts: 15,817
Re: Hey Mr. Chosen one

Quote:
Originally Posted by FRPLG View Post
You answered your question there buddy. OPEC controls flow. Nobody else. Drilling or not drilling doesn't fix crap. So we drill, more oil, OPEC responds by curtailing production..oil stays the same. We stop drilling, less oil, OPEC gradually expands productions, oil stays the same. The only thing that affects price on gas in this country is supply and processing capacity. OPEC directly controls supply. Capacity is function of the market and other external factors. POTUS controls neither.

Edit: All drilling does is change the source a tiny bit and give us a little less reliance on the foreign oil. But there isn't enough to eliminate the the need for most of our oil to come from OPEC. As long as the OPEC cartel controls the vast majority of oil in the world they control the price.
Your leaving out the commodities market and future trading. The perception that less oil will be drilled does drive up the price there. Sometimes its a short term spike or a long term thing.
firstdown is offline   Reply With Quote

Advertisements
 
Page generated in 0.27144 seconds with 10 queries