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Originally Posted by bringer
so consumption is DOWN in the US but refining capacity is the cause of high prices? or is it OPEC keeping production low while demand for oil is increasing worldwide? i know theres more to it then just drilling but if we tapped the resources off the coast of florida which china is already going after we wouldnt have to depend on OPEC who is constantly fucking us over.
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The oil companies and OPEC have come out and said that there is no supply issue.. OPEC has said they have offered to increase production but there were no takers at the time (although some believe that was bogus as they don't think OPEC was able to produce more Light Sweet which is what everyone needs, but instead the other type of oil).. The oil companies have said that more oil would reduce the prices a little but it would soon dissappear again because the main causes of the prices are the weak american dollar and the rampant speculation. Analists all over the place have said that the major portion in the increased oil prices is due to speculation. The airlines have written that letter now also stating that the energy needs to be regulared again in order to stop the crazed speculation...
Bottom line, the current issue has nothing to do with supply or refinaries.. The weak american dollar is a part of it but the major issue is the energy speculation markets. These are the same markets that brought about all the problems with electricty via Enron years ago.
So drilling for more oil, alternate energy sources.. Those things are all about keeping pace with long term supply and demand... But none of that is going to change a damn thing until they fix the speculation issue.
Quote:
Originally Posted by bringer
awesome! am i a racist too?
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Don't know.. are you?