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Make America Great Again
Join Date: Oct 2006
Location: Springpatch
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Why haven't oil prices dropped like a rock?
So I admit I know very little when it comes to this subject. But weren't we told "drill baby drill" going back as far as the 2008 GOP convention, and that an oil surge from something like the Keystone Pipeline would drop gas prices down to something ridiculous like $2/gallon?
I never believed that rosy scenerio, but we've gotten the most promising news in energy independence this past year when it has now been projected for America to overtake Saudi Arabia in oil production. So here we are, projected to be the global leader in oil production. Something that not even the Keystone Pipeline could have achieved, and goes beyond even its rosy projections in terms of oil generated for American usage. Oil prices have largely held, have they not? My understanding (limited as it is) is that oil is priced based on the projection of how much we'll be able to acquire in the future: Quote:
So what's the story on this? Thanks in advance. |
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#2 |
Be HEALED!!!!!!!
Join Date: Feb 2002
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*Profit Margin
DING DING DING DING!!!
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"Not every one that saith unto me, Lord, Lord, shall enter into the kingdom of heaven; but he that doeth the will of my Father ... And then will I profess unto them, I never knew you: depart from me, ye that work iniquity." "If the people let government decide what foods they eat and what medicines they take, their bodies will soon be in as sorry a state as are the souls of those who live under tyranny." - Thomas Jefferson |
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#3 |
Make America Great Again!!!
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Our dollar is falling
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2018 Adopt-A-Chief: #87 Travis Kelce ![]() |
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#4 |
In Search of a Life
Join Date: Aug 2007
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Let's just use the same type of argument Direckshun used about Obama job numbers. The "jobs saved" approach. The price would have been twice as high without more production. Tada!
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#5 |
Ith Fuhtbawl Time
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#6 |
Make America Great Again
Join Date: Oct 2006
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Not really.
The dollar is also projected to strengthen against the Euro over the next four years. |
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#7 |
Be HEALED!!!!!!!
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True this has happened since the creation of the Federal Reserve but it doesn't explain everything here.
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"Not every one that saith unto me, Lord, Lord, shall enter into the kingdom of heaven; but he that doeth the will of my Father ... And then will I profess unto them, I never knew you: depart from me, ye that work iniquity." "If the people let government decide what foods they eat and what medicines they take, their bodies will soon be in as sorry a state as are the souls of those who live under tyranny." - Thomas Jefferson |
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#8 |
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Oil production increases mean nothing when refinery capacity isn't allowed grow.
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#9 |
Fighting the invasion
Join Date: Aug 2000
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Gas has gone up about 50 cents a gallon in the past month. Seems like the price has gone up every time I pass the nearest station.
Haven't heard a word about it in the media, though. I guess they're too busy reporting on Dan Marino's bastard baby. ![]()
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#10 |
Be HEALED!!!!!!!
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Yup, complete ****ing bullshit if you ask me. It happens every election cycle though no matter who the incumbent sides with. Bush had gas prices drop drastically in 08 from $4 to about $1.19 and it rose steadily over a 6 month period(if i'm not mistaken on that timeframe) and Obama had the same thing happen this time around. I knew it couldn't last.
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"Not every one that saith unto me, Lord, Lord, shall enter into the kingdom of heaven; but he that doeth the will of my Father ... And then will I profess unto them, I never knew you: depart from me, ye that work iniquity." "If the people let government decide what foods they eat and what medicines they take, their bodies will soon be in as sorry a state as are the souls of those who live under tyranny." - Thomas Jefferson |
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#11 | ||
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I have said this time and time again ...
weak $ = high oil and commodity prices
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#12 | |||
Supporter
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![]() We just hit a 14 month low against the Euro, Professor
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#13 | |||
Supporter
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If you listened to his hero during the debates, it was implied that gas prices are high because the economy is doing good.
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#14 | ||
Supporter
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It's almost like clockwork
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#15 | |
America is great assholes~
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The Trump campaign and Black Lives Matter movement are perfect for each other. Both sides filled with easily led and angry nitwits convinced they are victims~ |
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