Quote:
Originally Posted by pornguy
Did you know there are plenty of other countries that have oil? In fact there is more oil in Venezuela than the entire middle east. Not to mention Mexico etc.
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I'm not the guy who tells the market what to do sorry, you have me confused with OPEC.
But of course I know other countries have oil. They just dont have huge megafields of light sweet crude.
Venezualan oil is very thick, and requires special refineries. Mexican oil, which has been in steep decline, altho the decline may have slowed, is also quick thick, and also requires special refineries.
Look it up - this is common knowledge.
Middle eastern oil sets the floor of oil prices. We dont actually use all that much of it, but it's the key price determinate. Thats why political unrest in the middle east causes oil prices to instantly spike.
And, I did say we COULD get off middle eastern oil - apparently you didn't read that part?
It would just cost us.