Opinion on Oil Prices, which do you think is more true?

Question

Which of these statements do you think is closest to the truth?

1) Government has no control over oil prices, so we should not blame the GOP for the high prices or praise them for their recent lower prices.

2) Government does have control over oil prices, so while the GOP is responsible for the recent low prices, they were to blame for the high costs in the first place.

3) Oil companies can manipulate oil supply in order to control prices. It is therefore possible that the recent lower prices are an attempt to help pro-Oil Republicans to remain in power.

4) Oil prices are totally controlled by market forces, not by governments or corporations, and therefore should not be a factor in any election decisions.

Answer 1

The government doesn't control oil prices,OPEC controls that for the most part.
But they can influence gas prices.....the fact that oil company executives are getting rich, and the amount of profit oil companies are getting, proves there is room to play with as far as gas prices.

Answer 2

Number 4 is closest to the truth. However, I do believe oil companies could indeed control the prices if they chose, but it would require cooperative effort which I think they are incapable of. Government can also influence the price through taxation. Which is why it was so ridiculous when their solution to high price was the possibility of imposing greater windfall profit taxes. As though the companies would absorb this added cost rather than passing it on to the consumers. Gas prices do have an effect on elections though, just like almost anything related to the health of the economy. It doesn't matter whether it is right or wrong. In society today we have become quick to blame our elected leaders for everything we don't like.

Answer 3

3

Answer 4

3

Answer 5

Nice try, but your statements are all mixed up. The (US anyway) government cannot control oil prices, but they can control some portion of oil production. Most of the oil production (and therefore most of the oil pricing) is controlled by OPEC, which is controlled neither by the government or the oil companies. However, regardless of the oil supply, oil companies have complete control over GAS prices. The better question is whether oil companies have raised gas prices in excess to the relative increase in oil prices, and in the process have gouged consumers and enriched themselves.

Even as a serious Bush hater, I cannot say with a straight face that gas prices reflected any direct political influence by, or on behalf of, the current administration. Now if you want to ask if US policies have caused OPEC to artificially squeeze production to stick it to the world's 2nd largest oil consumer, then we can talk...

Answer 6

2 is my answer the one thing i no about Americans is when there backs are against the wall all hell brakes out and you dont want to be the other end . My prediction is within 6months Oil wont be worth spit alternatives are gonna hit the market and you wont be able to give it away oil people watch your stocks?. wiping out alternatives has alot to do with uncle sam allowing big business Stop alternativesfromreaching the market. Ones who could crush the oil industry however im pretty sure enouph is enough kicked in and thats why the price fell. It mite go high one more time somebody is gonna pull a rabbit out of his sleve . the gov will close the gap and all hell will brake out after that when you see alternatives hiting the air a foriegn countrys will panic and say good by to Ameicas Oil hostage days .when they open there eyes for the second time they will confirm what they all ready new.Ower enemys are broke and at each others throuts.IT will end terrorists bring them to the table to discuss the poor and how not to lose acountry because of poor people fed up with the filthy rich and crumbs for the poor.

Answer 7

I don't no which is more true, but I think the Saudis control it on their end and the corporations control it on their end, right now the Saudis do not like the falling prices, so on the news they said they are going to cut back on 1 million barrels a day, so that means the price is going up again, they are just as greedy and everyone else.

Answer 8

I would most likely lean towards number three if you took the last sentence out.

Oil Companies can manipulate oil supply in order to control prices.

Answer 9

I vote for 1 and 4

Answer 10

regrettably, they have us in a field! Everytime the Mid east sneezes, we sh*t! Speculators are doing the pushing, alongside with few new super oil deposits to be chanced on. If we shop going in direction of extra gas useful autos ( supposedly to stress them to diminish fees) in turn they are going to easily pump much less to maintain their fees severe! yet another component you may've stated on your question is the effects of China and India on gas fees. each and every of the item we purchase from china in basic terms fuels their economic device, and in turn, they like to stay an analogous existence-type as we do. once you paintings that their center classification is the completed of our entire inhabitants, then you quite see why the fee of gas is going up. With all the jobs that went from india from here, and do an analogous with their center classification, you're speaking approximately a minimum of six hundred,000,000 those that prefer to stay the yank existence-type! there is not any going back additionally by way of no matter how lots we glance after, india and china would be extra effective than satisfied to purchase that oil, so it may no longer pass down, no matter what the politicos let us know! the main suitable component that all of us could do as voters, is to provide up procuring issues made in china (if it truly is achievable!). in the event that they haven't any money, they might't purchase oil! it will take perhaps 30 yrs to do, besides the indisputable fact that it quite is do-able.