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post #46 of (permalink) Old 03-16-2012, 03:56 PM
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Join Date: Jul 2011
Posts: 95
To break it down for you, no one man, or government control global oil prices. This is not an Obama loving rant, it's a fact. It's also global economics.

Even if the US starts producing more oil that will not affect the price in a global market.
Prices have risen because Iran has cut oil exports to England and France because of sanctions

The world economy is recovering, and China and India and the US is demanding more oil.

This has caused large-scale speculation on the markets in the future price of oil.

This was explained to me by an oil exec who works for BP. You know, BRITISH Petroleum.

But of course, it could just be Obama's fault.

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