OPEC says they don't have a supply issue but every news that comes out is says global regions are concerned about supply constraints. Is OPEC deliberately controlling supply and therefore can maintain control on pricing or is the world's oil really running out? It doesn't seem like Venezuela has a supply problem but that is more political.
2007-10-17 05:58:18 · 4 answers · asked by Mightie Mouse 3 in Social Science ➔ Economics
Yes and they show us that in 1973, It is not just that they control the price, because that what cartels do but they can have large effects on our policy. If we had control of Iraqi oil fields we could have "energy independence".
2007-10-17 06:51:39 · answer #1 · answered by meg 7 · 0⤊ 0⤋
The oil industry rules the world. There have
been other means of transporting a vehicle
but the big money people and politicians have
shut these means down. Money talks!!!
Electric vehicles and technical knowledge
about batteries will not emerge because the
oil companies buy the inventions and destroy
the new ideas. Six, eight, and ten dollars per
gallon is not out of the question in the near
future.
2007-10-17 13:17:06 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I agree the oil industry does rule the world but the part i dont understand is our sheding so much blood and death in Irac and yet we dont any control over the oil supply.
We spend billions of dollars rebuilding so i one would think we would either take control of their oil supply or atleast get a discount :P
Political manipulation!
2007-10-17 13:36:56 · answer #3 · answered by doc_holliday1863 7 · 0⤊ 0⤋
No, were not.
If they supply so little that alternatives are more economical, then we will switch.
2007-10-17 14:17:16 · answer #4 · answered by Abtruse 2 · 0⤊ 0⤋