Quote:
Originally Posted by Skid Row Joe
The price of oil is being artificially held up by the Central Banking System in the U.S. An audit of their books would disclose this, but it's not going to happen.
We are awash in oil - more oil than we have ever had in the past 30 years.
Based on supply and demand economics, there's no reason why oil should not be selling for between $10 and $12 a barrel. It should cost no more than a dollar a gallon at the pump.
At $10 a barrel, we (the United States) would bring the Middle eastern Countries to their knees, as well as Venezuela, and Russia. The U.S., Japan, India, China and most of the world including European countries would have an economic boom that had never before been seen in history.
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Yes everyone will bow to the demand of the US.......
You really need to wake up....
The official figures for Venezuela for example are 74%, do you really think that anyone in the US in the middle of this deal would like to cut his/hers billions dollars profit just for you? Following the same economics you are referring to, it DOESN'T make any sense for the Oil company to do so, because the share holders will sell out if there are not HUGE profits. So for them (the companies) to compensate the loss of the Venezuela oil they have to pay whatever the market ask.....so in the long run it will get even more expensive. Supply and demand......
You really need to educate yourself more in global economics.....
As soon as US (as per your opinion) try to demand lower prices, the sooner all this oil will be redirected to China, India etc...