2007-06-30 10:25:33 · 13 answers · asked by Ringo G. 4 in Politics & Government ➔ Politics
It is an excellent way to increase it.
2007-06-30 10:36:38 · answer #1 · answered by Page 4 · 0⤊ 0⤋
Surprisingly, the United States is the 3rd largest crude oil producer, after Saudi Arabia and Russia, with Iran being the 4th largest producer of crude. However, we only produce 8.3 million barrels of our daily consumption of 20.7 million barrels. Of that, only about 11.1 percent is obtained from Persian Gulf countries. Our largest suppliers are the non OPEC members Canada and Mexico, with each supplying more crude then we import from Saudi Arabia. We import nearly as much from Venezuela and Nigeria as we do from Saudi Arabia (these three are OPEC members).
Interuptions in middle eastern supply always have an affect on the price of crude. However, this would also occur even if the United States were completed independent from all sources of foreign oil. For example, the oil shock set off by the Iranian revolution in 1978 had a similar effect on gasoline prices in Great Britain, which produces more oil than it uses, as it did on gasoline prices in Japan, which imports 100 percent of the oil it consumes.
Taxes make up about 20% of what you pay at the pump (a/o 2006) but by far the largest factor is the price of crude oil (57% of the cost per gallon a/o 2006). Up until recently, the United States was by far the largest consumer of crude oil. However, though we still lead the pack, booming economies in China and India are producing a steadily increasing demand for oil in these countries. Couple the law of suppy and demand with a dwindling supply of easily accessible oil reserves and the price of crude goes up.
2007-06-30 11:23:28 · answer #2 · answered by Judy L 4 · 1⤊ 0⤋
wars have been going on in the "middle east" since before there was a "middle east" . It seems to me that the culture of the middle east is that which can only prosper if they fight a common enemy, or live in fear of a ruthless authority. Oil is the only reason anyone cares about that place, most of it is an armpit. Israel, UAE, and a few others are an exception, and an example of western influence allowing them to prosper. Funny little world.
2007-06-30 10:33:57 · answer #3 · answered by operation m 1 · 1⤊ 0⤋
No, the best way is to let Iran take over and consolidate all the oil producing nations along with cheves into one giant Islamic state, then you can really see some high oil prices.
2007-07-07 04:19:15 · answer #4 · answered by Anonymous · 0⤊ 0⤋
yes. the united states gets alot of it's oil from the middle east. If we threaten them or invade them, they will sell yhere oil to us a t a higher price, in an atempt to cripple our economy and our nation. And in order for the federal government to get mone for the war, they need to sell the gas at a higher price.
2007-06-30 10:33:08 · answer #5 · answered by Anonymous · 0⤊ 1⤋
No, more state and federal tax is a good way to make the oil prices high.
2007-06-30 10:27:28 · answer #6 · answered by RICARDVS 4 · 2⤊ 2⤋
Problem is we didn't start this war. Remember we got attacked, 9-11 you do recall that, don't you?
2007-07-06 17:07:58 · answer #7 · answered by smsmith500 7 · 0⤊ 0⤋
Not drilling in your own country is ... and we haven't started any wars in the middle east.
2007-06-30 10:27:04 · answer #8 · answered by Anonymous · 3⤊ 2⤋
a very good way, its worked the last 5 years,check the gas pump
2007-06-30 10:29:26 · answer #9 · answered by bozotexino 4 · 0⤊ 1⤋
If you steal some thing don't you get it for free? Good nite the room is spinning
2007-06-30 10:30:49 · answer #10 · answered by Anonymous · 0⤊ 1⤋