i think the big oil companies are just playing a game with us cause there buddy bush is in office
2007-12-16 17:32:22 · 11 answers · asked by i_think_its_me_17 2 in Politics & Government ➔ Politics
Perhaps a wednesday in November 2008 we'll see some relief.
2007-12-16 19:45:58 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Yes
As soon as conflict eases on the ground above the oil, Wall Street traders will view it as a boost in supply, and a potential loss in profit, and will quit buying it up, pushing the prices of oil higher.
Also it will cause every country in the world to relax about keeping strategic reserves completley full, and allow the price to fall a little more. Notice how oil and fuel prices dropped a little when foreign nations sold of their strategic reserves to America, and Bush released some of our own, after Katrina. If that wouldn't have happened, they would have spike mmuch higher and faster than they did. And people still believe our President, and other foreign leaders don't have anything to do with higher prices...go figure!
As soon as this happens, refiners will not have justification for the higher prices, and will have to boost supply to retain the same profits, lowering the price of gas.
2007-12-17 03:36:06 · answer #2 · answered by Boss H 7 · 0⤊ 0⤋
You'd be wrong then sir. Oil prices flucuate depending on circumstances here and in the world. They will go up due to increased bad weather in the US and more unrest in the ME with Turkey bombing Kurdish rebels in Iraq. That is just how it goes. It has nothing to do with Bush and the oil companies keeping the price high. They buy from OPEC and then have to make a profit. More then that though, the price is set by the law of suplly and demand. Supply is down and demand is up. That is how ti works.
2007-12-17 01:39:37 · answer #3 · answered by Anonymous · 2⤊ 2⤋
OPEC, not the big oil companies, set the price of crude oil, which determines the price of gas. The only way to lower the price is for the U.S. to drill its own oil and sell it to the oil companies directly. Maybe a national program which would partially de-privatize it.
2007-12-17 01:38:10 · answer #4 · answered by Anonymous · 3⤊ 1⤋
oil prices are also set on speculation of availible supply. if you listen to news radio you will notice that whenever a crisis wether human or natural, will affect prices. an explosion in iran, or a storm in the gulf of mexico, or even the shutdown of a refinery for repair can send prices up immediately. our only chance is to reduce our dependency on oil and realize that all sources of oil are finite and will be exhausted.
2007-12-17 01:47:03 · answer #5 · answered by Ralf 1 · 1⤊ 1⤋
If every car would use one less gallon a week, and every home would use 50 less gallons of heating oil a year, prices would drop like a rock.
2007-12-17 03:30:17 · answer #6 · answered by Barry auh2o 7 · 1⤊ 0⤋
The best way to lower fuel prices is by consuming less fuel there by reducing demand.
Buy more fuel efficient cars, use more public transportation, and encourage the US goverment to put more sock in alternative fuels.
That is how to reduce prices.
2007-12-17 02:39:44 · answer #7 · answered by Gamla Joe 7 · 1⤊ 1⤋
If we open up new oil wells and build new refineries, the price may come down, but if we don't the price is going to keep going up, because of supply and demand.
2007-12-17 02:23:12 · answer #8 · answered by Johnny Reb 5 · 0⤊ 2⤋
agian for the 1 millionth time, opec sets a price the brookers on wall street set the price, bush has nothing to do with it, and the price has dropped 20 cents here in the past month
2007-12-17 01:54:35 · answer #9 · answered by djominous20 5 · 2⤊ 2⤋
I friggin hope so. (on lowering prices)
I don't think they are playing a game.
2007-12-17 01:39:04 · answer #10 · answered by Matt V 2 · 2⤊ 0⤋