Why do we have to have the Saudis to pump our oil...when we have the capabilities to do it ourselves...their whole goal is to break the American pocketbook and they are succeeding...that was the reason 9-11 happened they wanted to break our economy...they wanted to financially crunch us...they are winning...our Government is supposed to protect us...and they are failing big time...screw the tree huggers government...pump our oil...then we don't need to depend on foreign oil...crunch their pockets for a change...but this makes to much sense and it's to simple...our Government needs to take care of their own for a change...the simple workin man can't do it alone...and the American people need to stand together and say we are not going to take it anymore...Why can't President Bush get is friends the Saudis to pump more oil and lower prices?
It is a global market. Now that China and India have become huge consumers, there is more demand. The law of ';supply and demand'; applies here.
Also, in the US there are not enough refineries to keep up with the demand. Most of our refineries are aging and new ones have not been built in more than 30 years. Demand for alternative fuels, such as bio and ethanol have also placed a hurdle in the way of new refineries being built, so oil companies are reluctant to spend billions for conventional refining plants鈥?which could keep supplies tight and prices high.
Oil, pork bellies, etc. Commodities all, and they are traded on the free market as such.
Unfortunately, the Saudis and other oil producers have having trouble keeping up with global demand. China and India are rapidly developing a middle class, and they want cars and all the modern conveniences that run on oil. Both countries have populations of a billion or more. The U.S. only has 300 million. Global oil production is nearing its peak and will be declining in the next 30 years as the big oil fields run out. Sadly, alternative fuels to replace this growing demand are a long way off, so it's going to get much, much worse.
A couple of things going on there...
Saudi Arabia is currently working on increasing output - I'm on a project over here right now that (along with the others) will increase output from 12 Million Barrels per day to 15 million Barrels per day...
Think about it... production will increase by 3 MILLION barrels per DAY! That's a lot of oil, and it is going to take billions of dollars to build the facilities required to produce and process it... it will also take several years for us to finish building it all.
We aren't the only ones building such outrageously large projects... every other oil company in the world is pouring billions into projects to increase production.
Now for the second half of that equation... Investors in the Mercantile Exchange can buy and sell contracts for commodities... gold, and oil (among other items) are bought and sold just like stocks. When bidders are clammoring for a commodity, the price goes up - when the USD falls, and the stock market looks shaky, money floods into the commodities market and the result is a swell in the prices for the contracts. It has nothing to do with what Saudi Arabia wants to charge for a barrel of oil, or what you pay at the pump, or even how often you visit the pump. The price of oil is influenced strictly by what the investors believe it is worth.
Like one person said above. There are only so many refineries that can turn oil into gas. So they could pump more, It wouldn't matter because the refineries can't make gas any faster. If we could stop being afraid of the environmentalists we could pump our own oil. We have oil. And we could make oil from coal. But because of the global warming scam nobody wants to do it. Besides, we get MOST of our oil from Canada.
The saudis could pump their fields dry and the price of oil will not go down.
It is not about how much or how little oil is available, raw or refined.
It's about the sheer numbers in the demand column. There are six billion people in the world and they have been told they must all have cars. And that the cars MUST run on gasoline.
The only people helping the situation are the people that don't buy into the car bullshit.
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Charlotte, why ask a question if you don't want to hear answers other than the ones you already agree with?
well gas prices are going up because saudia arabia doesnt have enough oil for the whole world they are very rich in oil but not ridiculiously. so the whole world is short in oil thats why gas prices are going up because its the whole world that needs it.
Because the oil is running out and they are not able to pump more! plus the political position of G.W.Bush is not stable so they are scared of his changes in mind and prefer to do nothing than being involved in politics
they dont need to pump more. In case you hadnt noticed, when the price went up, CONSUMPTION WENT DOWN, so there is no shortage. They are gouging US bigtime
I didn't know President Bush had friends.
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