Quote:
Originally Posted by MaDalton
the oil companies are not interested in dropping prices, they would just drill less. like they do now already.
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Oil companies don't control the prices , supply and demand determines the price and unfortunately oil companies don't control the supply - OPEC does.
Doesn't help blaming oil companies - blame OPEC if you don't like higher gas prices. So yes drilling for more more oil onshore will increase supply and should lower prices assuming OPEC doesn't lower output to counter that move.
The oil market isn't a free market