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Old 06-12-2009   #359 (permalink)
First opel 1981
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Join Date: Apr 2003
Location: Portland, Oregon
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The price of fuel has nothing to do with drilling offshore. It has nothing to do with the government. It has nothing to do with tankers parked offshore.

The price of fuel (oil) has everything to do with speculators. They are the ones that set the price, nobody else.

The best (and only) thing we, as the public, can do is to cut back on use. When the speculators lose tons of money thinking the public will buy every drop at $100 per barrel then the price will never get to $100. If they know we will pay $100, they will try 101....and so on.

The reason oil prices took a dive (aside from the US president election) is that many speculators had tons of money in the oil and there was an all of a sudden surplus. They needed to unload oil at all costs so the price dropped. Now as it edges up, the speculators are getting back into testing the waters.
If everyone dropped their oil use by 10% then the price would drop again.

Supply and demand, folks..... They will charge as much as we are willing to pay unless we can show them they need to sell their product for less.
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