Quote:
Originally Posted by KingElvis
But we already drill 'our own' oil - but is the oil 'ours?'
No.
If tommorrow they started turning all of Alaska into an oil patch - or put derricks outside of San Fransciso or Miami...well
It wouldn't make ANY difference in the price of oil!
Why? The world oil market is like a bathtub. When we drill the oil it goes into the bathtub
FOR ANYONE IN THE WORLD TO BUY.
So if we drill 'our' oil it's not like we get 100% of it. The additional supply doesn't just apply to the US - it's applied to the entire 'bathtub' of oil from the world.
This means the additional oil would make a very small dent in world supply - and therefore the price of oil would be pretty much unchanged.
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Those comments are so completely
wrong I'm not sure why I'm responding.
As far as Mr. T. Boone's recent campaign, I have reservations, he not only has a "horse in the race", he has many "horses in the race".
