View Full Version : US could outproduce Russia, Saudia Arabia in oil and gas
We've heard about this theory for a while but it's good to see production increasing.
http://news.yahoo.com/us-could-outproduce-russia-saudi-arabia-oil-gas-032534592.html
atrox6661
06-15-2012, 06:47 AM
Ya and gas prices are still going up go figure.
Ya and gas prices are still going up go figure.
It has never worked like that in the US & never will, no matter how much domestic production increases.
This "More domestic production means cheaper prices & energy independence" is a crock of shit. The oil belongs to whatever company drills it & most domestically produced crude oil is put on the world market by that company, then it is in the hands of the oil speculators, who add an enormous amount to the cost of crude oil. US companies then have to buy that oil back, at an insane mark up, to refine it for use as fuel, lubricants, plastics etc... thus increasing the overheads & ultimately the pump price. Even the US Defence Dept has to buy its strategic reserve from the world market. You'd think it would be easier for the government if they owned their own wells for that kind of thing, but that would immediately be attacked as being "Communist" & against the principles of Capitalism & the free market!
So in the name of corporate greed & maintaining the stranglehold on the worlds No.1 energy resource, the status quo will remain unchanged, except that oil companies & speculators (i.e. big banks) will make much more profit!
Ya and gas prices are still going up go figure.
On the contrary. Gas prices have gone down significantly, almost a dollar in a month and a half.
serpa6
06-15-2012, 11:34 PM
Well maybe now after the BP spill and all the oil rigs that where lost in Katrina. Just maybe we are going to finally see a stable gas price But that is a big maybe
The oil giants said it would take at least 6 yrs to bring back production levels to where they where in the late 90's after Katrina hit then the BP spill not to mention 2 wars.. But big profits are not easy to give up Pure greed is what drives them now!!!
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