Posted by LAA on March 19, 2012 at 05:59:12 from (65.0.33.21):
In Reply to: Re: Get this posted by Buzzman72 on March 18, 2012 at 09:32:25:
O.K., you understand that it is world wide demand driving the price but you do not see that boosting domestic production will lower the price, how can that be? Anytime you increase worldwide supply of some commodity the price is affected, the middle east cannot increase production at will, Saudi Arabia is struggling to maintain their benchmark 10 million barrels per day, an absolute increase in domestic supply will lower the price of oil for years to come. Remember the 1980's and 1990's.
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