
I was thinking this morning about the fact the world oil
supply is quite high right now and yet we're getting
badly gouged (at least by our standards) at the pump.
One of the main reasons the price is high is because
of speculation. And that speculation is largely based
on concerns over unrest in the Middle East.
Which makes me wonder...if the price of gas is really
disconnected from the actual tug of supply and demand,
then does it even matter how much oil is produced
here? Won't it just go on the world market along with everybody else's and sell for the amount commodities traders say it should?
I will be the first to admit I don't really understand
all the ins and outs of commodities. But I wanted to
pose a question...if our government passed a law that no
oil from a Middle Eastern country could be sold here,
wouldn't that free us from this insane situation where
a riot in Yemen dictates whether or not I can afford
to go camping or not?
And another benefit would be the fact Europe would have
much lower gas prices because the Arabs would have lost
the huge American market.
Any thoughts?
http://www.consumerenergyreport.com/research/crude-oil/where-the-us-gets-its-oil-from/



















