I personally think that cutting oil production in the Middle East will make oil prices skyrocket in the US. I think it is a joint decision between Saudi Arabia, Kuwait and the US.
If the idea of production cutting stays still, then I will think it's the perfect time to start investing in those oil profits. you think the gas prices were horrible this past summer, wait until this summer.
Americans depends on an estimated 20.5 million barrels a day but with this possible cut we may only get between 15-18 million a day.
(China depends on 6,391,000 a day, info. taken from http://www.nationmaster.com/graph/ene_oil_con-energy-oil-consumption)
2006-12-20 11:44:13 · 4 answers · asked by NONAME 2 in Politics & Government ➔ Other - Politics & Government
You're right oil prices would skyrocket-somebody's making a lot of money & I bet US big oil corps are right in there-there's plenty of blame to go around. Watch "Who killed the Electric Car?"
2006-12-20 12:14:59 · answer #1 · answered by Middleclassandnotquiet 6 · 0⤊ 0⤋
Idea of every body,this is the Politics of Oil.
2006-12-20 19:53:52 · answer #2 · answered by Dr.O 5 · 0⤊ 0⤋
Might have something to do with the announcement of a world oil glut.
2006-12-20 20:14:51 · answer #3 · answered by longroad 5 · 0⤊ 0⤋
We should just kill everyone with oil and then take it. Next question.
2006-12-20 19:50:07 · answer #4 · answered by Yuphescheese 1 · 0⤊ 1⤋