About Oil Prices

Gabriel Thegreat asked:


Why do they want Obama to do something about this? I thought they wanted less regulation and government intervention. If Obama put regulations on oil prices, you’d just accuse him of being a communist all over again. Funny how you contradict yourself. I’m sorry, is your great, freedom loving capitalist ideal frustrating you? The almighty invisible hand of the free market has spoken. He has deemed that oil be expensive.

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Yes asked:


What will be the impact on the price of gas when the oil fields in the former USSR go into full production?

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DC asked:


Alright now I’m not proposing this, I’m just wondering. 90-95% of the Middle East’s profit comes from oil, which the U.S. purchases the majority. (obviously not all but a large, significant amount) Why not just bulk up on oil for the next few months, years, or however long and make a statement to the Middle East that we have been constructing oil pumps in Alaska for the past 5 years and they will be fully operational within the next few weeks.

Tell them that unless they are willing to mandate a steady price of oil at an agreed $90-95 per barrel. If they need us as much as we need them, they will have to meet at that or negotiate a steady price wouldn’t they? And if they announced they would just stop selling us oil then, we could wait it out for a few months with our supply and then go back and start buying from the Middle East again which they wouldn’t decline due to the vast profit they’d be making once again.

What’s wrong with this scenario?

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nobody5390 asked:


Where can i find the price of a barrel of oil day to day from last week and for the next seven weeks?
Where can check the prices over the next 7 weeks***

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