Our clueless leaders in the Senate have decided that drilling the Alaska Wildlife Refuge will keep us in cheap oil long enough to get reelected one more time. This is leadership?
Ah yes, here we sit. But only for just a little bit longer. $2/gallon will very soon look like the good ol' days. :?kennyb said:Ideally, people would move toward conservations, new sources of energy - nuclear, electric cars or plug in hybrids, etc. etc. People won't conserve without gas being $5 a gallon and no one wants gas taxes. So here we sit.
well, google made 600 million in Q1 of 2206. see http://finance.yahoo.com/q/is?s=GOOGConservingConservative said:Everyone for some reason has this idea that oil companies are just huge vacuums on their wallets and that money is all they want. Wrong. Yes they do reap good profits such as Exxon's, but they don't make as much as other companies like Google, who make 200 million in a QUARTER.
I'm only a student on minimum wage and I hate shelling out $40 dollars for a tank on my cavalier, but it's market fundamentals and not some bigwig CEO wanting to increase his paycut.
I really find america confusing sometimes. We say no to foreign oil, yet our oil production is in decline because we don't want to see a few rigs off the east coast (10 billion barrels untouched last time I checked) and we refuse to let oil companies use new technologies to tap ANWR, apparently not knowing all they need to do is place a few derricks, pipelines, and a road or so.
Personally my stance is the people who complain about this stuff, then go and complain as they fill up their SUV's or inefficient sedans. Reduce your demand, and you create extra supply.
You forgot the converse:Jeffand said:Prices of oil are determined by supply and demand.
Supply is tight prices go up.
Supply is high prices go down.