Fordlover wrote:
dodge guy wrote:
Dandy Dan wrote:
Heard on the news that Barrel of oil may be dropping to around $20/bbl the price from the 1990's Would be nice.
While this could very well be possible the oil companies will not let that happen. the oil industry is the only industry that can manipulate prices by 1000% to bolster their profits. Now I do agree that they should be allowed to make as much money as possible, but to manipulate prices at will with nothing more than a statement of "a shutdown" or "shortage" is bad both as a business and for an economy that can be crippled by a huge change in a barrel of oil. the oil they pull out of the ground today will not see production for almost a year! don`t believe me? look what happened when oil prices went to $4.50 a gallon back in 08. No, that wasn`t the sole reason for the collapse, but it didn`t help!
If oil companies set the price of oil, why in the hell would they let it drop to 40/bbl. when it was north of 120/bbl not too long ago?
To put American fracking out if business. Drop the prices for a while, let the Eco people pound away at the dangers of fracking long enough for legislation against it to happen, then raise the prices to an all time high by limiting production.