You hippies wont let us drill wherever we can in the US but you gripe about prices and about pretty much the only oil producing country we can count as a friend and a supplier. Saudi Arabia is one of the handful of major producers who is willing to let prices drop by upping production. The rest would be glad to see oil rise above $100 again regardless of the consequences.The geniuses of GWB guys was able to connect the prices to Wallstreet speculation and FUD. They learned the lesson from Enron tactics. No more supply and demand economy. Just FUD and speculation. The best thing is to buy oil stock now. Feel sorry for the minimum wage earner though. Well they to find a job at Exxon-Mobil.And yet the price of gas at the pump has been increasing on average a dime per gallon per week for the last several weeks. Nice market relationship there, huh?
Sorry, but don't blame the foreigners for this one' this is a shortage entirely, and deliberately, engineered by lefty Americans who won't permit the US to exploit the resources we own!It's the wallstreet FUD speculation that controls the price. Like hedging?The Saudis are not trying to drive the price down but rather to keep it stable. I wonder what some of the other OPEC members think about those comments since they are not in our pocket like the Saudi Sheiks. And are those Sheiks jumping over into China's hip pocket?
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