CCTAU 3,345 Posted February 25, 2008 Share Posted February 25, 2008 My first political forum post, I think... As I understand it, oil comanies do not set the price of oil, the market does. Oil is a traded commodity and it sells for what the market desides it sells for. It's not Exxon or BP or whomever, it's simply what goes on on Wall Street. The issue right now is that supply is lower than demand and Econ 101 says that price will go up in this situation. To bring the price down, you either reduce demand, increase supply, or do some of both. The "some of both" answer is probably the best bet for us right now. Either way, oil companies have little to no effect on the oil prices. True. In saying that, if we had more refineries and plenty of fuel waiting to be delivered to the gas station, then the tankers would sit in the bays waiting for us to need it. At that point, the price of oil would plummet. But right now the refineries are not overstocked and they continue to buy the oil. So the affect the tree huggers and dims have imposed on us over the last two decades have joined together with greedy ass OPEC has helped to create an out of control oil market. Link to comment Share on other sites More sharing options...
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