Einstein, "science without religion is lame, religion without science is blind."
Think about it.. VZ has been producing oil since the 1920s and they haven't benefited very much.. One US approved ex military dictator after another.. until Chavez..
And Chavez is a populatist dunce.
On top of that, Venezuela has tar sands reserves that are about equal to Canada's, and their tar sands are apparently of higher quality.
Oil prices rose while demand fell. Speculators are at work.
You know folks, with all the debates going on about the price of oil/gas, I'm seeing a lot of mixed messages. Can anyone provide just the straight poop on how oil and gas is priced?
It seems that the prime movers are Supply and Demand, and Speculators, right? So if the US produces more domestic oil, that domestic oil will not necessarily be cheaper because oil price follows the Intl market price, right? But sometimes some countries get oil for more or less, and that seems contradictory, yes? And how can the president be or not be responsible for the price of gas?
And then the price of gas is obviously influenced by the price of oil, but does that (gas) follow Intl pricing? I don't think it does. The price of gas follows the regular rules of Supply and Demand I would think because I can get different gas prices from different stations in the same town. Correct?
I'm not trying to be a wiseass, I'm asking sincerely.
I know it doesn't answer all of your questions.....