Artificially decreasing the supply side in order to drive up prices. Good thing the USA just sits on their own carbon assets instead of drilling, countering, and profiting on the market. Oh, and creating jobs. Forgot about that talking point.
I'm working on harnessing a new source of power for my car.... crushed hopes and dreams. It's an untapped resource
The sad part is that we have the resources now to decrease the demand for Foreign oil. I'm considering purchasing a Natural Gas Vehicle. The cars run on natural gas and they can actually be filled at your home. It's pretty cool, but they are still a bit pricey. $25,000 for a Honda Civic and $3500 for the filling unit that goes in your home. There are some tax rebates that go along with it, but still pretty pricey.
There has been no increase in offshore drilling, and if/when there is it will have no effect on OPEC pricing.
http://www.nytimes.com/2008/06/19/washington/19drill.html They lifted the ban on it. Seems to have affected the markets since that is precisely when the price of oil started tumbling.
That link is from June and I see no mention of any lifting in the ban, just Bush playing the fear card to scuttle environmental protections it took years to put in place.
http://www.guardian.co.uk/world/2008/jul/14/georgebush.climatechange http://www.nbcdfw.com/news/green/Congress_Allows_Offshore_Oil_Drilling_Ban_to_Expire.html and that it did.
I was wearing an orange shirt the day we won the lottery to pick Oden. It seems my shirt affected the pick, since it was the very same day. Seriously, why would the price of oil go down by a factor of 2 or whatever it has, just because the US decided to allow more drilling? Economically, that doesn't make any sense at all. barfo
Well, in that case, I know how to make cars much cheaper. We'll simply say that we plan to build a new auto plant, and in response Ford, Toyota, BMW, etc. will all cut the price of their cars in half. barfo
Neither does Bush's at this lame duck stage. This will not stand. ...While environmentalists predicted the bans would be reinstated in the next Congress... This is simply one of the many environmental and safety protections which Bush has tried to reverse in his last minute war on the people of America which also include gutting the Endangered Species Act, numerous worker-safety laws, Clean Air and Water regulations... Obama's first order of business will be months and months of intensive effort to restore these protections. The net result is Bush is wasting about 1/4th of Obama's term with these childish antics and billions of tax dollars, and deliberately sabotaging the President and the very issues the American voters have decided they want promoted. It is called treason and it will be another notch in his infamous legacy of destroying Democracy in America.
You shouldn't post to this thread again--or any post regarding supply and demand--until you understand the power of signalling.
Great, so then we are held hostage once again by the middle east....watch the price of oil skyrocket once we get these bans up in place. Of course, self-reliance on our own resources is a bad thing......the same shit happened in California with this environmentalist bullshit, lowered fuel economy and an increase in the gasoline tax. And Obama flips his stance on offshore oil drilling anyways..... http://edition.cnn.com/2008/POLITICS/08/02/campaign.wrap/
Collinearity. Look it up. Another person who doesn't understand the economic power of signaling. Of course, demand is down because of our slowing economy, but the price declined in large part because we demonstrated our willingness to tap our own reserves.
It's sad when people comment on things they don't understand. Learn the difference between a commodity and a high technology good before you post again.
