Wednesday, December 16, 2009

Why do people ignore the facts on oil prices being high and blame it all on the war in Iraq?

But what about the fact the China and India have had major jumps in the amount of oil they are buying because, at least for China, they've had a drastic jump in industrial production in recent years. Basic economics, when demand goes up, so does the price. What about the fact that there are 'oil futures' on the stock market on Wall Street that spike the guestimated price of oil in the future everytime a sheik in the Middle East burps. Even when we get only 7-8% of our oil from Saudi Arabia and less than 3% from Iraq (in 2005). We get more from Canada (10%) and Mexico (8%). Venezuela is our 4th highest supplier but the price of oil doesn't jump everytime their president Chavez comes out and does his crazy rants, or even when he put troops on is border with Columbia. Nigeria, Algeria, Angola, Russia, and the United Kingdom round out the top 10 of our suppliers.


And we still keep sucking up the oil despite the price, keeping the demand and thus the price up. Insane.Why do people ignore the facts on oil prices being high and blame it all on the war in Iraq?
Most people are not economists and only have a vague idea of supply and demand. They probably don't realize the increased demands for oil both domestically and abroad, and even if they did, wouldn't necessarily expect higher prices.





On top of that, most people use the logic of ';post hoc, ergo proctor hoc'; (It came before it, therefore it caused it.) In many people's minds, the war in Iraq occurred, then oil prices rose, therefore, the former must have caused the latter.Why do people ignore the facts on oil prices being high and blame it all on the war in Iraq?
Because many thought we would get cheap gas by invading Iraq.
The thing that most people fail (or refuse) to see is that there is NOT a shortage of oil. There is a shortage of refineries. For years, the big oil companies have been merging %26amp; looking for ways to cut costs %26amp; increase profits. That's just the way any business operates. Plus, environmental laws enacted by the democrats, liberal lawsuits %26amp; the environmental wacko's like Green Peace have made it nearly impossible to encourage the building of refineries or increase oil production in this country. As a result, they close down refineries %26amp; get oil from other countries.
Did it ever occur to you that the president's father has major stock in the oil business???!!!!! Did it ever occur to anybody that he's taken control of and virtually monopolized the oil in this country? The gas prices spike not as a result of this war.....this war was perpetrated as a means to gain the monopoly which allows the president's family to control the gas prices.......Remember when carter was president? He passed some crazy law that drove up the price of peanuts by about 300/cent because he was a peanut farmer. Does anybody remember the fact that Bush senior was the v.p. during the reagan administration when the iraqi government was funded by american military surplus?!? Remember the iran contra when reagan convinced the country that we needed to create a military force in iraq? The same force we're now fighting......are we all so short sighted? Does anybody know why W.T.C. building number seven blew up when it was never struck by a plane? or why the other two towers blew pulverized conctrete all the way to new jersey at several hundred miles/hour???!!! can kerosene do that in an oxygen starved environment or are we all being lied to like usual? Does anybody remember the fact that bush never won the popular vote? Does anybody even know the difference between the popular vote and the electoral college? Does anybody remember what the word impeach means?
Hey buddy this is America and *****-ing about things that have nothing or little to do with the reality of the world is our GOD given right. Unless you don't believe in GOD then you are just an Aye-Hole for complaining. Either way my 25 gallon Honda Civic won't fill itself will it.
This is because people our irrational, and more often than not, they don't think.
The price you see at the gas pump isn't directly related to supply/demand. Yes, that certainly is a main driver but not a direct one. A lot the spiking we see is also the futures markets and what people are speculating the price of oil to be and betting on it.
Because they do not know what they are talking about....Lack of fact and a big mouth makes for a common everyday liberal...
It is very simple. People are ignorant and since we are becoming a very lazy many choose to be ignorant and don't try to get educated. You seem to be doing good. More power to you!
Mainly because conservatives are ignoring facts...





...like this...





';Report: Oil firms squeeze supply to boost gas prices';





http://www.usatoday.com/money/energy/200鈥?/a>





Also the fact that Bush is a former Texas oilman.
Actually...you are partially correct...the fact is we have too much money being diverted from failing hedge funds to the commodities market, specifically--the oil market (driving up price). Also, since some OPEC countries have decided to use the Euro as their standard of currency (Iran is an example)---that has placed us in an akward position on the skyrocketing prices of oil and the valuation of the dollar (notably---our dollar is declining in value against the Euro---)





Iraq has something to do with it too--but that situation is more the result of politics than it is oil related (ditto for Venezuela).





PS: Nigeria is one of the CHIEF reasons why we are seeing a price hike---some oil services companies are having a very difficult time drilling due to internal problems in Nigeria.
Threats to supply also factor into these prices. It's not just demand.
Because they are liberal lemmings and are total ignorant of economics and the law of supply and demand.
People don't understand the world market. The president of the united states has no control over the price of oil It is supply and demand. Every person that uses oil for any reason is setting the price every day that money is spent on it.
People ignore it. They don't think of the laws of supply and demand, the instability in the US economy and the crisis in South America might affect the price of oil too.
because they have to blame it on the president, it can't be something as logical as that (dumba**es). they need a reason to hate bush.

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