Quote:
Originally Posted by Mr Spock
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
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OPEC only controls a small portion of the supply. Oil companies have a part every step of the way from exploration to delivery. Speculators working in collusion with Wall Street and the Oil companies drive up the prices for their benefit. It has been shown that oil companies sell their oil to subsidiaries to drive up the bidding by allowing competitive bids between "separate" entities to drive prices up. Seriously, pay attention. This is all public data available to you.
The public and gas station owners get fucked. Did you know that gas station owners earn on average 1-2 cents per gal profit? Nice margin. Why do you think they all have become kwiki marts? Only real chance for profit.