Oil prices?

Question

I understand that the oil in the middle east is being bought up by china and india and that is why they are rising. I was reading in Pomp thular mechanics and they said that we have found more oil in the Apalachians. So i don't see why we cant pump that oil for the time being and develop alternatives to gas and maybe strike a deal with canada, because they are bound to have oil if Alaska does, to share oil so the prices go down?

Answer 1

<<Imported oil accounts for about two-thirds of US consumption.>>

there has not been a major oil find lately.

if there had been, it would be BIG NEWS.

canada really does not want to send us more oil for less money.

maybe you should work 50 hours a week for 30 hours pay.

or is it only alright to ask others to do that?

maybe the government should require that all cars sold in the US get a minimum of 34 mpg.

that would help considerably.

Answer 2

The oil industry are in the business of selling their product for the highest price the market will absorb. They will never lower it out of the kindest of their hearts. Alaskan oil won't end up in the lower 48. Gas sells for seven bucks a gallon in Japan, which is no further than shipping it to, say, southern California. Mobil, Shell etc would be out of their minds to ship it to us. I don't think this answered your question ...I got off on a tangent..

Answer 3

If u helped propagate GW U help to do it to your self.

Answer 4

Interesting question.  The fact of the matter is that most of the oil that we use here in the United States is manufactured here in the U.S...  The war I believe is being used as an excuse for the oil companies to raise the prices... But now I am just one man talking.  And if you step back and try to jump on the conspiracy bandwagon here is an interesting observation that I made...  George Bush Sr. Went to war with Iraq (desert storm).  Gas prices went up. Clinton went into office and pulled out gas prices went down sub $1.00.  George W Bush takes office and gas prices hit all time highs... interesting right... seeing as how the Bush's money is made in the oil business.  But I'm crazy.  And I can't really prove anything...

Answer 5

drilling in the Appalachians would be an environmental catastrophe. decreasing oil prices would take away the public demand for change, which would virtually halt all alternative fuel research and would make us (even more) woefully unprepared for the end of oil around 2050.

Answer 6

Well, the problem with that is that the oil in the appalachians isn't enough and it could cause many environmental dangers. There are many cars in the USA so that is why we need more supplies of oil. You CAN strike a deal with Canada, but it allows a big process. And yes, sharing oil is a good thing, but sometimes we americans are too greedy.