No seriously -- big oil we do blame you!
If supply was the problem?? How do you do this
If Bush and McCain want to open up our protected areas for drilling -- How does that really help us? If oil is selling for $140 a barrel -- wouldn't opening up drilling in these protected areas just make the oil companies richer?? -- Really - just think how many more barrels they could sell if they can drill for oil in Alaska and in the Gulf of Mexico or the Chesapeake Bay.
If most of our oil is coming from over seas and these guys can decide to increase production and have production increase to 1/2 million barrels a day and have this start in 30 days time. WOW
Then this is what I hear.
1. They have a lot of oil.
2. The Demand is High!!.
3. They have a lot of it.
4. They just can't get it of the ground fast enough!!!
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3 comments:
http://www.time.com/time/business/article/0,8599,1815884,00.html?cnn=yes
You have to drill instead of sending money out of the country like we have been doing for decades. China and Cuba are already drilling off the cost in flordia. So instead of us drilling it we'll end up buying from them. It doesn't make any sense. And quit blaming the oil companies. If they had a huge stock pile of oil they would be flooding the market right now. Also most Oil comes from the middle east not big oil companies.
On another note the markets look into the future so if they know more oil is coming in the future the prices will come down.
Actually, most of our oil comes from Mexico and Venezuela. The current high price is driven by speculators using the same trading loophole that allowed Enron to rape California. Without the speculators the price would settle around $80.
The only true solution is to find a replacement for oil, not through more drilling.
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