Quote:
Originally Posted by GreyWolf
Anyone will a clue knows every well that the market price of oil is not dependent on the US and governed by world demand.
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Take a look at these figures from 2006 and tell me who demands most of the worlds oil supply.
http://www.eia.doe.gov/emeu/cabs/topworldtables3_4.html
You will notice that the U.S. consumes an average of 20,588,000 barrels a DAY which is about equal to the next FIVE countries... China, Japan, Russia, Germany and India COMBINED!
So I guess you could say that although the market price of oil is not solely dependent on the U.S that there is definitely a direct relationship with the U.S. demand and the world market price.
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