Hey Mr. Chosen one

[FRPLG]

Originally Posted by firstdown

So your saying that stopping US companies from drilling oil off the gulf coast will not drive up prices? While I agree goverment does not control supply and demand they do have some control over things that do drive up and down the price of oil.

Why was this thread even started? Did someone say the cost of gas was higher now then with Bush? I think I paid almost $4.00 at one point under Bush.

You also say Nobody have control over gas prices but Opec has a ton of control over prices. Why do you think they control the the flow of oil to the market?

You answered your question there buddy. OPEC controls flow. Nobody else. Drilling or not drilling doesn't fix crap. So we drill, more oil, OPEC responds by curtailing production..oil stays the same. We stop drilling, less oil, OPEC gradually expands productions, oil stays the same. The only thing that affects price on gas in this country is supply and processing capacity. OPEC directly controls supply. Capacity is function of the market and other external factors. POTUS controls neither.

Edit: All drilling does is change the source a tiny bit and give us a little less reliance on the foreign oil. But there isn't enough to eliminate the the need for most of our oil to come from OPEC. As long as the OPEC cartel controls the vast majority of oil in the world they control the price.

[firstdown]

Originally Posted by FRPLG

You answered your question there buddy. OPEC controls flow. Nobody else. Drilling or not drilling doesn't fix crap. So we drill, more oil, OPEC responds by curtailing production..oil stays the same. We stop drilling, less oil, OPEC gradually expands productions, oil stays the same. The only thing that affects price on gas in this country is supply and processing capacity. OPEC directly controls supply. Capacity is function of the market and other external factors. POTUS controls neither.

Edit: All drilling does is change the source a tiny bit and give us a little less reliance on the foreign oil. But there isn't enough to eliminate the the need for most of our oil to come from OPEC. As long as the OPEC cartel controls the vast majority of oil in the world they control the price.

Your leaving out the commodities market and future trading. The perception that less oil will be drilled does drive up the price there. Sometimes its a short term spike or a long term thing.