The US only accounts for around 18-20 % of world wide oil demand, and its demand is generally stable +/- 5% in any one year. It is emerging market demand that is driving the price of oil and gas (not natural gas in the US) up.
Heck if the US was smart it could and should build LPG plants on the east coast to export natural gas. But that would I believe break some US laws
Conservatives believe the government is incompetent, and seek to elect people who will prove it
Ignorance is Bliss Bliss is the same as happiness US Christian conservatives are the happiest in the US according to studies Do you see a connection?
Im neither Conservative or Liberal. I'm just an average swing voter and I want good leadership. I don't care if he/she's a Dem or a Rep, we need a good leader.
And yes I was cursing Bush at the gas pumps during the Summer of 2008 and if they go up again this Summer, Obama should be held just as accountable as Bush was in 2008.
Also if gas does sky rocket this Summer, try not to act too surprised at the price going up for food at the Supermarket. Not a good thing to happen for Obama during an election year.
Last edited by Sparky; 02-20-12 at 06:11 PM.
Incidentally, the "drill baby, drill" crowd should take steps to learn more about the math behind the idea. Then they'll realize just how stupid it sounds when presented as this magical solution to rising gas prices. We can't drill our way to lower gas prices.
Last edited by Deuce; 02-20-12 at 06:38 PM.
One of you will end up here next!
Why are oil prices so high and may continue to rise further? The simple answer is because the oil companies can.
On Bill O'reilly last week they talked about this very issue. While US consumption of oil has declined our prices continue to rise. The Global demand for oil/gasoline is still strong so Oil companies are still processing as much oil but instead of easing production to match US consumption which would lowering prices and profit they are instead shipping product overseas keeping the perception of US demand high and prices with it. This will only continue to worsen as China's demand continues to rise even if we continue to lower consumption.
It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
"Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911