National Interests and the price of oil.

[Rastus]

If you didn't know before...it should be evident now....the Middle East controls oil price (not the US oil companies) by opening and closing the tap.  In fairness, it takes a bit for trader greed and currency value to cycle out.  Now...let's see...the Middle East has talked but yet again declined to close the spigots to drive prices up. 

Prices were high while contender BHO running.  U.S. dollar value just above toilet paper.

Prices low with BHO president-elect.  The Middle East says the prices are too low, yet they are still pumping oil without a cutback to drive their own revenues up.   U.S. dollar value gaining.

Something to ponder.

[Pathfinder]

If you didn't know before...it should be evident now....the Middle East controls oil price (not the US oil companies) by opening and closing the tap.  In fairness, it takes a bit for trader greed and currency value to cycle out.  Now...let's see...the Middle East has talked but yet again declined to close the spigots to drive prices up. 

Prices were high while contender BHO running.  U.S. dollar value just above toilet paper.

Prices low with BHO president-elect.  The Middle East says the prices are too low, yet they are still pumping oil without a cutback to drive their own revenues up.   U.S. dollar value gaining.

Something to ponder.

Since gas prices have nothing to do with the actual cost of production, but on oil futures, this lull in pricing may be more due to the economic disasters on Wall St. then on the prices in the ME. Or maybe it's due to both and other things too.

In any event, it is temporary.

[ericire12]

Oh dont get me started on OPEC..... Americans dont understand anything past the price at the pump.

They dont understand how OPEC controls everything about the price of oil. They dont understand how vital it is to get of foreign oil -- both for homeland security and the stability of our economy. They scream "no war for oil" but dont understand that if we drill without restriction we would never have to worry about anything happening in the middle east ever again. Its insane.



*and yes, just the other day Saudi Arabia said they want the price of oil to be back up at at least $75 a barrel.
*what really scares me now is that Russia wants to put together a cartel like OPEC that would allow them to dictate the price of natural gas.