My energy plan: declare a national energy emergency; uncap all our oil wells that were capped back to the 60’s and forward; use the tons of exploration maps the oil companies have locked up for years and start drilling immediately; ban all the red tape for drilling and refineries; tell environmentalists to go to hell; drill offshore in the Gulf and Pacific. As for refineries, drop all the red tape and work non-stop 24/7 with thousands of workers just like we did in WWII to vamp up to win a war. My guess is that prices would drop quickly with that announcement.
So, what’s the price of a gallon of gas in India and China?
That’s what I was thinking.
I remember a few years ago when the spike started gas, where I live, went from 1.49 to 2.09 in two months and the stated reason was China wa using more.
I didn’t believe they just started using more oil all of a sudden.
Same now.
Theprice of oil has been rising in the last few years because of “world instability”. Every time there was any crisis no matter how small oil went up. Crisis over oil stays up. Nest “crisis” oil goes up. Crisis over oil stays up.
Now “they” say it’s China and India.
The Saudi’s and other opec members are geeting filthy rich. That’s all that’s happening.
The idiot Chavez is blustery now simply from oil profits.
Iran is building nukes because we are funding them through our ignorance and stupidy.
Does anyone comprehend the impact on oil prices of the US almost halving it production of Oil since 1986? Does anyone grasp the fact that despite the World Market demand for Oil steadily rising for the last decade the US is producing less and less of it's own oil each and every year? That the US is producing less oil now then they even did in 2000?
http://tonto.eia.doe.gov/dnav/pet/hist/mcrfpus2m.htm
It is called Supply and Demand. People should learn about it.
You're not alone. This whole "China & India" platitude strikes me as pretty flimsy.