Quote:
Originally Posted by crateish
I don't understand. We were promised unlimited and cheap oil if we invaded Iraq.
Rumsfeld couldn't have lied, could he?
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lol, where did you hear that? the first gulf war was indeed about oil, the second had nothing to do with it. anyhow, the oil companies are just a convenient whipping boy. they don't gouge, collude, or anything like that. the fact of the matter is, oil is a commodity traded globally, and all commodities are traded in US dollars. when Bush came to office (in order to help US industry compete abroad) he allowed the dollar to devalue. As the dollar drops in value, everything we export becomes cheaper. the flip side of that though is everything we import becomes more expensive. when Barry got elected, he ratcheted up this policy by having the FED print trillions, and trillions of dollars. we now have a currency that's worth barely half what it was 15 years ago. were essentially doing what we bitch about the Chinese doing. and because oil is sold globally, is sold in US dollars, and is a commodity; it doesn't matter how much of it we produce here. other than the revenue coming back home.
the oil companies have been investigated about 2 dozen times over the last 40 yrs, and never once has any instances of gouging, collusion etc been found. until someone comes along and repeats the strong dollar policies of Reagan and Clinton your never going to see the price of gas drop much.