I got answers about the high oil prices being a terrorist plot with the same old TV news answers the oil companies put out! Answers like, compared to (heavily taxed) Europe we are lucky. I was told I an uninformed! I was told because we are at war with that part of the world!
Does everyone believe the oil companies talking points, or do some of you think it has more to do with greed and opportunity?
Who are these oil traders, Jihad cells who have infiltrated the comities markets?
My tongue is planted firmly in my cheek!
2006-07-09 04:36:05 · 10 answers · asked by Anonymous in News & Events ➔ Current Events
I'm glad this question has created some responses! Some of you have your facts and figures close at hand! ( oil company people I suspect).
All in favor of ethanol buy a GM E-85 or other flex fuel vehicle! I have a Honda, and use ethanol, not a big mixture, it's in the form of VODKA! I don't drink and drive, so drive less and save fuel!
You good people do know what tongue in cheek means?
2006-07-09 05:09:27 · update #1
It's pretty much true, yes. The main culprit in driving up demand is China. However...we have closed down 48 refineries in the U.S. over the last 25 years which has lowered our production capacity. If the companies would reopen the facilities with upgraded performance capabilities, we'd be in MUCH better shape. We are literally 48 refineries short in this country.
2006-07-09 04:45:39 · answer #1 · answered by stevenB 4 · 2⤊ 0⤋
I read your other question and did not answer it but think that it is due to global demand making oil prices rise. Yes, middle eastern countries who control most of the oil reserves are profiting from this and so are the terrorist who tend to get their money through oil. However, I believe that there is an alternative to solve both problems. The answerer is alternative fuels. If everyone used Ethanol for example would take less demand off of oil and you would see the price of oil fall drastically which would cause instability in the middle east economies and force the terrorist to look for other ways to get founding. Also ethanol which is produced mainly in the US from corn would drive our economy and create millions of jobs in the US. All of the proceeds from ethanol would go directly into the US economy because it would be grown here and produced here. If you believe this is impossible then look at countries like Brazil. Who use 100% ethanol in all of the vehicles in Brazil. Their Ethanol is produced from sugar Cain and they claim they have enough sugar Cain production not only to produce enough ethanol for their country but for a global demand.
In short to end terrorist funding, drive oil prices down, and help fuel the US economy buy and e85 car GM's Almost entire line of cars use e85 or convert your current vehicle to run off of e85.
2006-07-09 05:01:20 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Economics 101 - the law of supply and demand. Global demand is increasing and the supply is being controlled by the oil producing nations, therefore, the price increases. This further exacerbated by traders who deal in oil futures and react negatively to just about anything that happens.
2006-07-09 04:42:43 · answer #3 · answered by williegod 6 · 0⤊ 0⤋
I use to work for Hailburton and went out in the field and we did Acid Washes and set pipe and capped a lot of wells.
I talked to oil executives and the man in the field and they tell me that every few years there will be a "shortage" to drive the mom and pops out of the gas business and to drive the prices up. This was 20 years ago and I doubt that anything has changed.
2006-07-09 21:17:59 · answer #4 · answered by north_westner 2 · 0⤊ 0⤋
Educate yourself! Demand is 89 million barrels per day and supply is 93 million. There is a 4% margin...pretty slim don't you think? And why does maximizing profits make a company "greedy"? Are you greedy because you expect to be paid the maximum salary for your ability and worth your employer? KNOW THIS: THE ONLY WAY TO ENSURE A GOOD SUPPLY OF HYDROCARBON RESOURCES IS TO HAVE HIGH PRICES. HIGH PRICES ADJUST DEMAND AND CREATE INCENTIVES FOR THE HIGH-RISK EXPLORATION AND DEVELOPMENT OF NEW RESOURCES. These are facts, historically demonstrated in every other commodities market.
2006-07-09 04:46:19 · answer #5 · answered by Mark W 1 · 0⤊ 0⤋
Have you heard of peak oil? It is the half way point of the supply lines. Some say we reached that point some time ago. Getting oil to come out of the ground after reaching the peak oil point will continue to get more and more expensive.
2006-07-09 04:42:42 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Considering how many big gas guzzlers are being made lately, I'd say so.
How many cars are now being made with a base horsepower around 400 or more?
How many SUV's and the like get less than 10 mpgs, yet people are buying & driving them like there will be no tomorrow?
2006-07-09 13:43:11 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Since 1970 a house that was 25,000 is now at least 250,000. Homeowners have not problem with the outrageous equity gain.
Gas at 30 cents in 1970 is now at ten times that amount and everyone complains.
2006-07-09 04:41:42 · answer #8 · answered by Anonymous · 0⤊ 0⤋
You have a certain number of dorks in this world that will believe anything and everything they are told---so---in direct answer to your question---NO--NOT EVERYONE-- but there are still alot of people who do----a real shame that --you know
2006-07-09 04:42:09 · answer #9 · answered by Anonymous · 0⤊ 0⤋
yes, oil company is big demand
2006-07-09 04:39:50 · answer #10 · answered by truth 4 · 0⤊ 0⤋