Capt. JG wrote:
"Stephen Trapani" wrote in message
...
Vote McCain for four more years of the same!
It was the Bush Administration that relaxed the rules regarding oil
speculation. That certainly worked to the advantage of some folks and
heavily against the interests of MOST folks.
Way off. You know that it is foreign oil driving up the prices, right?
You must not know that the rules you refer to are wrt domestic oil
speculation. I don't know how much domestic speculation has been
stimulated as a result, but if much has, that would drive down the price
of oil. It can't drive up the price.

Stephen


Huh? Where did you get that? Any uncertainty drives the price up. The
source is irrelevant. It's not like it's our oil vs. Saudi oil. Oil is
oil, and it fluctuates on the world market.
"Domestic speculation" refers to people looking for and presumably finding
oil in US territory. Finding more oil, especially locally, drives down the
price of oil for the US. Understand now?

Stephen

Oh, so you're talking about drilling for oil in ANWAR and other pristine
wilderness areas.

Maybe, and maybe new methods of extraction can be devised to preserve
such areas. But the main source of US oil is shale which is more
expensive to extract, but is very abundant. Relaxing the rules regarding
accessing this resource will stimulate production and drive down prices.

Understand completely. And, no, it won't make any
difference.

Any reason I should believe you when what you're saying makes no sense?

Why don't we set up a drilling rig in your backyard if you're so
inclined.

Great! I'll be rich!

Oil is sold on the world market, as Salty pointed out.

He neglected to mention that transportation costs play a big role in the
price of oil to eventual consumers. So the price of US oil will go down.

Not only
will it have minimal effect, the amount that we could realistically extract
wouldn't come online for a decade. Understand now?

I definitely have a better understanding of your level of knowledge in
this area.

Stephen