Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
The same people who "caused the increase" (Republicans, Bush, etc.)
The Democratic Congress?
Supply and Demand?
Who?
FT.com / MARKETS / Commodities - Oil price of $100 a barrel on horizon
Demand (watch OPEC and production drop too, if it goes down a lot further very quickly)
Dollar Strength fluctuation back
Bush's removal of ban (effects speculators)
Build up in inventory in storage/refineries/etc
New exploration
and a lot more...
unlike what some people would like to spout off... the influences are many
Why, so foreign companies could drill off of our shores?Exactly. If there's one group that could of done more it was Congress. They should of voted on lifting the ban before going on vacation.
Why, so foreign companies could drill off of our shores?
What brought oil down was that people stopped using so much of it.
No, of course it wouldn't just be them. But they are welcome to bid on the leases. And since oil is sold on the world market, it is in their best interests to sell it to the highest bidder.No Kirk... oops... not Kirk this time
Ravi... it is not just our driving or our usage.... it is multi-faceted
Opening up more drilling for supplies to come in when tapped will help with the speculation and the price...
And it would not be just 'foreign oil companies'...
No, of course it wouldn't just be them. But they are welcome to bid on the leases. And since oil is sold on the world market, it is in their best interests to sell it to the highest bidder.
At least you all have stopped using the ridiculous notion that any oil drilled off our coasts would belong to we the people and we'd get to set the price.
the other point that is not often mentioned, is that at the most, US production would go from 2% of the world market to 4% of the world market, if we immediately tapped all our potential sources.
What makes you think Bush and the Republicans had anything to do with gas prices?
It's funny how Liberals cry that increasing supply by drilling won't lower the price but lowering the demand will... So according to liberals there is no supply and demand????? It's only demand? I've never heard of that theory... Interesting... Seems to me that you are contradicting your argument.
Just wanted to include a liberal response so the question didn't seem so one sided... Anyone who knows anything about economics understands that if you increase supply, or lower demand prices go down.
Which liberals would those be?
If there was a shortage of oil increasing the supply would lower the cost. There is no shortage, so the producers are free to slow down production whenever they choose to keep prices high. And if you think they don't do that already, you aren't very bright, KMAN.
huh? Why don't you explain exactly how you think allowing drilling by US owned companies and foreign owned companies will lower the price of gas at the pump.That's what I said... You only believe in demand lowering prices not supply.
