Quote:
Originally Posted by bowtieguy
alas, i digress. still, the price is related to foolishness by all parties in my estimation.
bet your interest would be peaked by beer prices on the rise and extra taxation eh?
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In the SHORT TERM prices are effected by policy, yes, as in the deregulation of rules on speculation in the commodities markets, monetary policy that protects the value of the dollar, etc. In the LONG TERM oil prices have only one way to go and that is up- it being a finite resource facing virtually limitless demand, domestic and global. In fact oil is a global commodity (if anyone bothered to look at the links I provided, you'd see the U.S. EXPORTS, yes EXPORTS oil too) so really there isn't much one can do to alter global crude prices is there. Oh, we can use less and thus buy less and thus save money that way. We can make and enforce rules to prevent speculators from going too far either way with valuations. Sure we can drill domestic supplies, and we are... and for those deposits we aren't, it's mostly because the oil is expensive to extract and thus what oil company in their right mind would go after it unless the crude prices were high enough? The U.S. has 2% of known global reserves and 25% of global consumption- sorry, whoever says we can achieve oil independence soley through domestic drilling is going to have to show me the math on that one. ANWR doesn't contain enough oil to make a material difference to any of us anyway, and it looks like the Bakken is no different. Ever stopped to ask yourself why, if there's so much oil in ANWR and Bakken, that every newspaper in the nation doesn't have 2" headlines and ticker tape parades proclaiming "
US NOW OIL INDEPENDENT"? I figured there's about a 6 month supply in the Bakken, even using the top estimate that shatto and I agree is published. Is my math wrong? Hah? Who gets excited about 6 months of oil? Why? Will it make you run out and buy a new Silverado and drive it all over creation? What? I don't get it.
But you guys knew that already right? This is all old information and I'd think anyone that's been on a fuel economy forum for any length of time would totally know this by now and if not (shatto...
) forget it.
Speaking of math, if gasoline was $10/gallon I'd have to fork out another $60/month. Er... it's not even $4 yet for most of us and look at all the crying. Has anyone REALLY figured out what they spend in gas/month, or are the whiners just jumping on the whining bandwagon? Whoever doesn't have $60 in their budget for gas really, truly is a poor slob.
Where is this $16/bbl oil? Linky? Anyone?
What does the price rise under Obama mean? What does the price rise under w mean? Anyone? shatto- you thought it was important enough to lead your first post with- what are you saying? Hah? What?
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