amitbarfs, you are right about the main factors driving the price of fuel, but we may not have to generate huge volumes of petroleum to affect the speculation in the futures markets. Increased domestic production will help the overall economic situation here resulting in an increase in the value of the dollar.
the recent spike in price has nothing to do with lack of supply/production. In fact, most of the production in the Middle East is at 80% of capacity. And as we all know, it's a global oil market so increased production in the US fields which produce a negligible amount of oil relative to the world supply, would have almost no perceptible effect on pump-prices. The two single biggest reasons the prices at the pump are rising: speculation and a weakening dollar. That's it.
We could also just make cars as fuel efficient as they were back in the late 70s. Don't take my word for it. Look into it yourself.
OurFadedGarden 8 months ago
amitbarfs, you are right about the main factors driving the price of fuel, but we may not have to generate huge volumes of petroleum to affect the speculation in the futures markets. Increased domestic production will help the overall economic situation here resulting in an increase in the value of the dollar.
willis1865 10 months ago
the recent spike in price has nothing to do with lack of supply/production. In fact, most of the production in the Middle East is at 80% of capacity. And as we all know, it's a global oil market so increased production in the US fields which produce a negligible amount of oil relative to the world supply, would have almost no perceptible effect on pump-prices. The two single biggest reasons the prices at the pump are rising: speculation and a weakening dollar. That's it.
amitbarfs 10 months ago