Oil is fungible and costs very little to ship. The large companies that pump it out of the ground are international. Therefore, oil pumped out of the ground in the US is an international ‘product’. Other international suppliers, esp. the Saudi’s can pump a lot more oil than they do, but they control the amount they pump to maintain price w/o hurting the world economies too much. If they cause recession or depression they make less money.
Speculators are having a wonderful time with oil. There seems to be the perfect time delay between the interruption of one of the many suppliers and the pick-up in production buy other suppliers to buy and sell. We made a nice amount with the BP blow out.
If we nationalized our oil sources and had enough production to supply our needs plus a significant percentage, we could be oil independent. Dream on.
So, nothing is going to change until there is an alternate to oil that doesn’t have the issues of oil. And we’ll need a lot of it to significantly displace oil to change the economics of oil.
Oil the way we are making a political issue of it makes no real sense, but those that don’t understand the basic issues can be manipulated by this issue. Drill baby drill! Simple, right? No.
With Gas Prices Soaring, Obama Looks to Ramp Up U.S. Oil Production
Drill, baby... drill!!!!!!
“If we must have an enemy at the head of Government, let it be one whom we can oppose, and for whom we are not responsible, who will not involve our party in the disgrace of his foolish and bad measures.”
- Alexander Hamilton. Spiritual father of #NeverTrump
Theism has nothing to do with this issue. And there is no doubt that there could be positive return with alternative energy.
“In politics, stupidity is not a handicap.” -Napoleon