And yes the Europeans are worried about it; however, not worried enough to take any definitive action, such as lowering interest rates. As to Europeans coming to the US, they're flocking here in droves. Go into any NYC pub and you'll find that the majority of patrons are Europeans here on holiday, buying "cheap" US goods and services; sort of like we used to do in countries like Mexico, wherein the currency was extremely weak.
They say they will. Will they?
They said that in late March, too, and they didn't deliver. The $/bbl price has increased $20 since the last time they said they would increase production.
We are getting increasingly mixed signals from Saudi Aramco. I'm not even sure which half a mil they're talking about anymore.
Reading between the lines, it looks like Aramco is hitting peak, for probably political rather than geological causes ... but peak is peak, regardless of cause.
We need to develop alternatives for transportation liquid fuels, and fast, and stop relying on producing nations who don't like us very much, and who can no longer deliver.
here's the basic answer. crooked politicans.However, you failed to answer the basic question. How would you enforce the price of US-drilled oil to be lower than the global market rate? How would you, in a global economy and free market capitalistic country, achieve the sentiment you expressed earlier, i.e., "taking care of our own first?
As to "wine," I'm just about to open a very nice, hearty Sicilian red to serve with my lamb kebabs; however, if you actually meant "whine," I would point out to you that NOWHERE in this thread have I whined about anything. I've not complained about the price of oil, nor about the evil Saudis, nor about the bad old oil companies. I'll leave it to your imagination to guess as to who has.
Still awaiting your answer, even though you're not an "economists." Perhaps you might just outline it in broad, high-level terms without all the economiststics detail. :D
|« Previous Thread | Next Thread »|