Gasoline Economics: Low Supplies = High Costs
It's simple economics:
When Supply drops, Demand (and thus price) rises.
Guess who controls the supply? Exxon? Texaco? Chevron? Consider this chart Chevron presented to Congress recently.
(Nations like Iran and Saudi Arabia control 94% of the oil that's being pumped.) Of course, the US has plenty of oil--it's just off limits thanks to out-of-control state and federal regulations.
For a larger view, click this link to the Powerline blog.
When Supply drops, Demand (and thus price) rises.
Guess who controls the supply? Exxon? Texaco? Chevron? Consider this chart Chevron presented to Congress recently.
(Nations like Iran and Saudi Arabia control 94% of the oil that's being pumped.) Of course, the US has plenty of oil--it's just off limits thanks to out-of-control state and federal regulations.
For a larger view, click this link to the Powerline blog.
posted by S. at
3:40 PM
1 Comments:
Start drilling in ANWR. Now! And I say this as a dude who loves Alaska.
If not, I am sure Democratic Congresswoman Maxine Waters has a great solution in mind after the government socializes(oops!) I mean "takes over" the oil companies(and how is this not socialism? The Dems never seem to have an answer to that question) I hope BHO picks her as his running mate.
By
Anonymous, at 6:10 PM, May 30, 2008
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