Actually, Daddy Bush made the presidential executive order.

All we need now is Congress...ahem...(yea, sure)...to do the same.

DEMOCRAT leaders:
"we have given the oil companies 800 million acres of non-productive areas to drill in.  Why not drill there....for nothing."

They wouldn't.

Election year

hehe.... 

Im just wondering....do any of you boneheads ACTUALLY have any sense of business ??

Explain to me, why any company, selling any product, would want prices to be high ??

Even in the case of an item as inelastic as oil.   
Do you boneheads even understand the economic concept as simple as elasticity ?

Oil companies dont OWN the oil.  Oil companies dont TAX the oil.

unreal.

There's no "need" for a diamond by consumers, aside from possibly some industrial uses.  If the product's purchases are simply based on wants, then it removes the possibility of artificial inflation of any significant amount, because the people can simply say "no."

> Black_Wing wrote:

> By the way Elysian, are Wallons really retarded ?

Trolling?

"Better watch out Elysian......you may be edited for being "Off-Topic" by Alan the F-god.
This is about Oil, not diamonds."

What Elysian wrote hardly warrants an editing, as he was simply making a comparison on how diamonds are priced compared to oil.

People people, Black_Wing is unable to get such things Elysian. If he can't understand it then he'll start with... "trolling" as you seem to call it. Hence his numerous... "trollings".

And ofc, if it is a product that you sell that everyone needs and there is zero to none competition (YAY FOR having everything private! silly) then the companies want to have the prices as high as possible...

dragon, i don't the problem is being privatized. it's trusts, monopolies, cartels that are the problem. nationalization of business rarely leads to better efficiency.

BlackWing is a Economic Scholar.
You all just cant manage an exchange w/the master of the Market Economy.

No one wishes to answer my questions.......therefor, you all try to attack poor little ole BW.   
Its ok though.  Im a big boy, I can handle it.

Ummm,  Boneheads.....my "Off-Topic" comment goes to another god-F-mod, waving their magic wand.
Glad you all made my point for me.  Thanks. 

When IRAN rattles their sabre, that is a pressure on demand.  This increases price.
When the US President comes out, and eliminates the presidential order on no off shore drilling.....this releases the pressure on the Demand, and Price Decreases.

This is the market at work.  Short-Term or long term.

When a butch of boneheads say that the present output of oil is at a peak, and their socialist-elite media sounding boards, reinforced by Environmental Nazis like Al Gore, spout how bad oil use is........

This is a pressure on Oil demand, and a scare tactic to push oil prices higher.

The Market at work.

All the oil companies do is compete to extract the oil, refine the oil, and deliver the oil as efficiently as possible, while maintaining the demand from the economy.

This is the market at work.

Oil companies DO NOT set price.
Oil Companies DO NOT OWN the oil.
Oil companies compete w/each other, this keeps the oil companies maximizing the product.

Dont you socialists understand ?

@ Gladiator, I am completely lost on what you are trying to say.
Want to try again ?

exactly

and it's not even just these 3 sectors, if you look closely into the drilling/refining/selling businesses, there's many more sub-categories to each one as well, all of whom have a different outcome to the different prices of Crude oil