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opec is stupid
one company setting price of oil
opec is stupid
one company setting price of oil
montanta has more oil then the usa will ever use
if she was a liberal you would be full it
since she is not you think she lie
We can't wait for China to own us, lets get some shovels, pails and one of those wooden fork looking things that shakes when oil is near. Whose with us!?!?
but if we talk about paying down the debt the stupid liberals just say blame the repubicans and not try to solve the problem
"montanta has more oil then the usa will ever use"
And that's exactly why the oilcos are sticking their big, long, hard s into Mont Tana right now, right?
And lift the drilling moratorium also.
Drilling more oil in USA won't have ANY reducing effect on fuel prices.
Sure it does.
WC assuming, with his usual laser accuracy, that US fuel consumers will NOT be charged maximum price by the US oil cartel.
You don't understand supply and demand, do you.
Originally Posted by Fabbs
You've got to be a troll.
Mouse?
Mouse is a goodhearted guy, he'll forgive me.
I understand that you live in an ideological fantasy world.
The compe ion-free oilcos and refiners cartel charge whatever the they want to charge, depending how much their management bonuses will be. And they revel in the windfall, we-do-nothing-extra profits when oil goes up.
The only place gas compe ion exists is at retail and the oilcos will shut down any station operator who tries to compete on price.
Supply and demand? GMAFB
Last edited by Winehole23; 12-30-2010 at 01:41 PM.
(double post)
Dude, I know this is your favorite phrase and all. I'm half convinced you use it to troll all of us.
But two questions:
1: Do you really think that oil production is a free market?
If yes,
2: Have you heard of OPEC?
Not completely and yes. It doesn't take much of a supply change to change price. OPEC may control most the supply, but not all of it.
OPEC is not a company.
They don't set oil prices.
Montana most certainly does not have that much oil. That bit was misapplied information taken from a puffy brochure to lure suckers, I mean, investors, into investing in companies extracting Bakken formation oil.
I don't think Palin lies. She is just stupid and ignorant.
There is a difference.
pitbull is stupid, ignorant, patron saint of American Venality, and she lies (she's right wing, she can'/won't stop)
Even if Bakken had as much oil as its press release, American fuel prices wouldn't drop.
But American environment would drop.
By the way, the US is a net exporter of gasoline.
Wrap yer heads around THAT.
Heard it on NPR the other day in one of their business clips, did some research on it and danged if it wasn't true.
The US has been expanding refinery capacity at a time when countries around the world have seen a rise in demand for distilled petroleum products, like gasoline. (think lots of new Chinese drivers)
It may surpise some of you to know that Iran has to import gasoline.
Refineries are hard to build and generally fairly technologically sophisticated.
US Becoming Oil Products Net Exporter: GS
Be interesting to see if this trend continues.
Who's going to force extra supply, when oil producers can reap a lot more money per barrel by keeping supply low and charging an arm and a leg?
As long as people need the oil and are willing to pay a lot for it, there's no incentive to increase production.
The only solution to that dilemma would be regulation (probably on an rust grounds), but then we all know what you think about that...
BTW, the current system is a lot more complicated than simple supply-demand. The entire futures market on energy can drive prices up and down merely on speculation.
To some extent.
Nobody is really quite sure how much that actually affects the final prices.
Even before outright speculation with derivatives, you still have buyers and sellers reacting to things and adjusting bids/offers.
I still think that underlying fundamental supply and demand will drive the price up over the long term at rates much faster than inflation.
There is every incentive to increase production.
That is why most OPEC nations cheat on their production quotas, and cartels are notoriously hard to enforce supply discipline on.
It is a version of the prisoner's dillemma.
If everyone else restricts their output, and you don't, you gain a lot of profit at their expense.
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