When will the oil companies fix those 2 oil rigs hit by Katrina so oil prices can go back down again? And why is it taking so long?
2007-03-24 07:06:25 · 7 answers · asked by BIGBOY 1 in Politics & Government ➔ Politics
The oil prices will never go back down until people start rumbling about alternative fuels again. The prices have absolutely nothing to do with fixing any oil rigs. The big oil companies are playing the consumer for fools.
2007-03-24 07:09:55 · answer #1 · answered by melouofs 7 · 0⤊ 0⤋
Whether we like it or not our gas and petroleum prices are set by OPEC and the Spot Market. The Middle East has over 75% of the world's oil resources and individual well produce over 1000 bbls per day. We compare that to North America at 4% of the world's reserves. A typical well in the US is 10 bbls/day.
Two platforms in the gulf may disprupt a percentage of supplies to the Gulf Coast, but not enough to drive the international market.
You have asked a very complex question that has many factors - global supply/demand, economics and taxes, perception, politics. Each one demand a whole book to even begin to understand.
2007-03-24 20:37:37 · answer #2 · answered by searcherj2003 1 · 0⤊ 0⤋
When the price of Crude Oil is $100 per barrell...
2007-03-25 01:11:18 · answer #3 · answered by Mitch 2 · 0⤊ 0⤋
I read the news about Congress wanting royalties when Clinton was in office. The oil companies had to pay up. Now we pay up for the ruling by Congress. So buck up and reach for your wallet.
2007-03-24 14:14:28 · answer #4 · answered by grandma 4 · 0⤊ 0⤋
...it's not the Oil Rig's... we've got plenty of oil... it's backed up at the "refinery"...!!!!!!
2007-03-24 14:10:14 · answer #5 · answered by Anonymous · 0⤊ 0⤋
probably never they like to have excuses to higher those prices
2007-03-24 14:11:47 · answer #6 · answered by lizziemoffles 4 · 0⤊ 0⤋
My wallet is exploding- leave it
2007-03-24 14:09:50 · answer #7 · answered by Anonymous · 0⤊ 0⤋