Or is $3.00 our new negotiation mark?
2007-07-01 20:18:34 · 11 answers · asked by Anonymous in Politics & Government ➔ Politics
the free market thing may be a little confusing. The oil is traded on the free market and even in countries like Iran that have billions of gallons of oil pay that High Price. In Iran why sell it local for pennies when you can get $70 per barrel? Also unless new sources are found the market stays High. Demand will only increase with or without Kyoto and Prius! Building new refineries and drilling will help some.
2007-07-01 22:43:25 · answer #1 · answered by ThorGirl 4 · 1⤊ 0⤋
Not if the energy bill passes in Congress, I don't think it could get lower. It mandates huge increases in the use of ethanol in gasoline. I don't know if it's true but I've read that it will cost more, but provide less mileage per tank. Congressman McCrery says "it lifts no bans on oil and gas drilling, and does nothing to ease regulatory impediments to pipelines, transmission lines, refineries, or coal and nuclear generating plants. The only power it generates is expanded bureaucratic power over energy and economic decisions."
2007-07-02 06:34:32 · answer #2 · answered by JudiBug 5 · 0⤊ 0⤋
No, global peak of oil production is now. After 2008 or so it will cost much more to extract oil because we've rapidly used up the cheap to extract sources. We've been riding on the cheap oil bonanza since the industrial revolution. Cheap oil is all but gone. In every market that is dependent upon oil, the prices will rise, including food production (fertilizers/insecticides), medicine, building industries, transportation industries, well virtually every industry. It's not likely that alternative fuels can be developed and industry transformation quickly enough to avoid extreme economic disturbances. That means anything dependent upon petroleum for its production will cost us lots. Get ready for rough times ahead.
2007-07-02 05:50:45 · answer #3 · answered by jaicee 6 · 1⤊ 0⤋
Those prices are a thing of the past . Get use to the prices being in the 3's and in the future climb again.
2007-07-02 03:22:58 · answer #4 · answered by thinkbig 3 · 2⤊ 0⤋
Yes. But if you want alternative fuels or better mileage cars you will hope the prices stay high.
2007-07-02 05:23:42 · answer #5 · answered by ? 6 · 0⤊ 0⤋
I don't ever think that will happen unless the demand drops because we find other alternatives to oil.
2007-07-02 17:47:16 · answer #6 · answered by ALASPADA 6 · 0⤊ 0⤋
No,the costs to find,drill,transport,refine,transport to market are all going up.
We need to develop sources closer to home.
2007-07-02 05:14:11 · answer #7 · answered by Anonymous · 0⤊ 0⤋
no you wont....with the pelosi/reid regimes removal of new energy exploration credit for...farm aid you can believe if it becomes more affordable they will only raise the tax base of marketing it.
2007-07-02 06:13:04 · answer #8 · answered by koalatcomics 7 · 0⤊ 0⤋
its highly unlikely that t will fall much below 2.50 per gal, greed will keep it high
2007-07-02 06:27:18 · answer #9 · answered by Anonymous · 0⤊ 0⤋
No more .
2007-07-02 05:29:51 · answer #10 · answered by Anonymous · 0⤊ 0⤋