When the supply and demand does not matter anymore the market is being manipulated by it's biggest players. The GOP's stance on backing big oil in everything they do as an industry has led to the artificially high prices of oil and gasoline. Speculators are a large part of the problem too. Especially if the same oil is traded multiple times driving up the price of oil. The US is now a major exporter of refined fuels to a world wide market. Refiners and large producers of oil are now making billions by not fucusing on the US market. There is no incentive to lower prices here when they can get more by shipping refined fuel abroad. This was a wise busines move by the oil industry, but it placed the US market at a disadvantage. We are now competing for refined fuels on an international market than before the industry began selling abroad. The US oil market must be modified, or regulated to gain back our national oil market based on supply and demand. Until we develop a national oil policy that is truely based on supply and demand we are all going to suffer high gas prices.
Or better yet, sanctions against the Idustrial and Commercial Bank of China? How would that work. By the way, does Goldman Sachs still own a part of ICBC?
I see another Obama blunder unfolding that will only cost us more at the gas pumps and more military expenses if he can't bluff Iran. Too bad for Obama that they have seen him capitulate and change his stance too many times this year alone.
We shall see what develops in the coming months.
Forget this effort, ask Congress for a declaration of war and nuke Qum (where the regime trains their fanatics) & the nucular sites. End that regime, their mad death cult and the threat. But if Obama proposed that tomorrow, the GOP would be opposed and insist on more negotiation. Their vain attempt to keep him for fixing the mess they caused will conctinue at any cost to freedom and this country. Their owners will pay for nothing less.
Gasoline prices are set by the oil companies. They decide what they can get away with and charge accordingly. Oil refiners and speculators buy and sell oil until the price is up as high as the market will bear. In today's globalized economy there is no regulation of the oil markets and cartels can determine how much oil they will produce and at what price.
None of this will have any effect on the average voter since it takes about 20 years for the average voter to understand any change in applied economics.
And if this doesn't work then war, yes? Or is it all a big bluff? And more important does Iran think it's all a big bluff? A lot of ways it can go wrong and only a few ways it can go right.
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We shall see what develops in the coming months.
Then we have a story of him going ahead with oil sanctions against Iran.
Im so confused. Is Sactorum a liar? Being a good christian guy???
None of this will have any effect on the average voter since it takes about 20 years for the average voter to understand any change in applied economics.
I'm sorry, but wasn't Obama supposed to have tanked the economy by now?
Can you say bag the tea baggers?