How many of you think that the Administration need to do more to bring the oil price to a reasonable price?

Question

thanks so much for airing all your thoughts. appreciate them. the reason i post this question i wonder why the price could possibly increase so high and like Penny said, she is affected to a large extend. Last year when it hit US60++ per barrel its like such a big news, now i last heard it hit USD160? hmm.

Answer 1

I feel the administration/government should definitely do something!!  All of us are having a hard time paying gas prices.  I am staying home more and planning my trips out just to save on gas.  My sons are in their early 20's, one is newly married, and are both having trouble putting gas in their tanks, as their salaries aren't all that much yet.  When is the govt. going to do something????

Answer 2

They can't do it.

Member since:

    September 24, 2007

Total points:

    171 (Level 1)

Oil is a free market commodity that is priced by availability and demand. Today it's heavily influenced by speculators that buy quantities of oil expecting a big return as the price rises. Massive buying such as this indicates a shortage to the market and forces more price increases. There is also the manipulation by Big Oil which is hard to prove and the control by OPEC.

Demand has been increased dramatically by new big demands by the great change in the economies of both China and India. American demand, of course, is on the rise overall, too.

The US oil companies are sitting on huge tracts of land of which they own the oil rights but are not drilling. There is no need to suddenly open up new areas for Big Oil to drill in America because there are places to drill now. These areas may cost more but, like the oil sands development in Canada the price of oil is strong enough to create huge profits from most claimed ares in America.

American increase in drilling and refinery capacity will do little to offset any oil price increases because the amount would represent only a small percentage of total oil capacity in the world, besides which Big Oil has no interest in bringing the price down and decrease their huge profits.

Bush, essentially being an oil man has no interest in lessening his and his friend's profits either.

Answer 3

I don't know. Hmmm. Seems to me Pelosi and the dems made all kinds of promises about getting elected and then fixing the gas prices. Seems they couldn't figure it out either. Gas prices have doubled since the dems took over the House and Senate. By this measure we should be at $8 a gallon 12 months after Barack get's sworn in.

http://www.springboardblog.blogspot.com

Answer 4

in order for our country to do more, congress needs to take back the reigns of printing our currency again, this private federal reserve in conjunction with the worldbank has held the world hostage to serve their own pockets.

Answer 5

Until the Democrats are willing to lift the restrictions on drilling, building new refineries, and nuclear power, there is nothing the administration can do. Pelosi's Democrats won't even allow the measures to come to a vote.

On the other hand, the President and Republicans controlled the Congress and White House for 6 years and did nothing.

The government creates problems. It doesn't solve them

Answer 6

I agree strongly with this statement. I do want to warn some people that any gas that comes from Venezuela has been watered down. President Chavez has seen fit to water his gas and still sell it for the same price per barrel as other gas. Please beware when buying gas. There are certain chains that buy this gas. You must also beware that they are now putting 10% ethanol in gas and that will make your vehicle drive a bit funky but it is not as bad as the gas from the kind(ahem-sarcasm) Pres Chavez.

If the administration had listened to the people in the 70's we would have had a handle on this gas crisis a while ago. The people must be heard on this subject and we should start to write to our government officials to get them up off of their duffs to do something about this situation.

Let us get our government to do something about this thing!