Quote:
Originally Posted by reccles44
LOL, that is the dirty little secret purcysunshine that nobody wants to talk about. Blame Saudi, Iran and Hugo for the oil price jumps everyone is paying. Then blame the big US oil companies for causing the price of oil to jump to $130 a barrel.
Then we make ourselves look even more foolish with this legislation when all we have to do to bring down world oil prices is take the USA off the world oil market by drilling for our own oil.
Force OPEC to reduce prices when we have the power to do that ourselves? Blame Canada and Mexico for charging market prices for oil when we can bring down the price to a ridiculously low level ourselves? How stupid do we think the world is?
Every one in the world knows what kind of reserves we have and that our own environmental wackos are keeping us from getting it. We deserve to pay what we are paying and even more. Like it or not, the enemy is not them, it is us.
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Yeah... not quite. Oil is a world market. Do you honestly think that if we drilled for oil in our own back yard, the oil companies would sell it for any less than they could get on the open market? OPEC is indeed slightly to blame, but it's the market speculators that are really fudging things up.
See if you can wrap your noodle around this... let all the other countries deplete their supplies, then when we have the last viable reserves, and oil is at $300 a barrel, let's tap 'em and run to the bank using it to fuel our own economic growth.
You all do realize that oil doesn't just equal gas, right? It's plastic, fertilizer, pharmaceuticals, and on and on and on.
I have seen so many threads here decrying the need to let capitalism be capitalism, no caps on profits, etc. We on earth would you think any oil company is going to risk their profits (especially when most are partnered with foreign oil companies) when foreign oil companies are banking so much? It's a ridiculous assertion.