Of course we could just be positioning ourselves to be the only country with oil left if they ever run out in the Middle East, Canada, Venesuela (sp)......
The reason that I do not think that the problem is supply side on crude is that we have HUGE reserves. Demand has dropped in the US (a little) yet prices continue to skyrocket. Get a strong dollar again and the price will fall about 30%. As soon as you let people speculate on a commodity like oil you drive the price up as well. Blaming the Middle East for not giving us enough or Chavez IMO is wrong. I was amazed the other day to see how much of our oil we ship out of this country.
Once the alternatives hit oil will be worthless and those countries are going to be bumming. The Middle east only has oil so IMO they do not want the price of oil this high because they know that at this price point alternative start to become more viable. When oil was 30 bucks a barrel who cared....
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