Quote:
Originally Posted by jmintzer5
Oil production (at least in the US) is most certainly political. The recent EOs banning offshore drilling will decrease production and increase demand.
Decreasing fracking will do the same for Natural Gas prices...
|
I am sure the Oil Industry is all about politics, but I was replying to a post regarding the present rise in oil prices.
Which over the last year was due to basic supply and demand, which was worldwide and not anything to do with politics.
Future price rises may be affected by political decisions in the USA. I leave that to the Wall Street Traders to speculate on!
As foot note.
Gas in the UK is today is $8.18 a gallon.
Diesel today is $8.66 a gallon!