Oil companies were sitting on leased public lands and not drilling, to keep prices high. Obama cancelled..?

S

Smoking Joe

New member
...those leases so they could be used.
That's why oil production is up.
Romney's claim that oil production decreased is wrong. Can he offer any proof for that claim?
 
Oil is sold as a commodity on the global market. The global market sets the price.
Whether the oil comes from America or the middle east, it goes to the same refineries and sold to the same companies who sell it to you.
They set the price, based not on supply and demand principles, but global future trading; the "stock" value.

Only nations with a socialized oil program, like Venezuela, can regulate their own prices. They drill refine and sell their own oil. America sells the drilling rights and gets no advantage from the oil drilled, shipped and refined.

none.

That is why prices are high.
 
Obama shut down 33 Off Shore oil Wells in the Gulf of Mexico, losing 20,000 American Jobs and NEVER RE OPENED THEM..

This doesn't even include the 2.3 billion he GAVE to the dictator Chavez to drill for oil in the Gulf Of Mexico that he denied Americans to drill for... Ohhh By The Way.. Chavez now sells that oil we paid for to Communist China NOT America... Taxpayers were BONED again by the neophyte Obama...

Oil/ and Gas prices went up then and has never gone back down to where Obama took Office at.. Why? Because THAT IS OBAMA"S OIL/GAS POLICIES THE HIGHER THE BETTER...

DUMP OBAMA NOW....
 
".........to keep prices high"??

Dearest Joe, you're more ignorant than I first assumed, as you lack
all knowledge of economics.

Precisely because prices are high would oil producing companies be induced
to expand their exploration and oil production.
(Sparky, it's the profit motive)
If they didn't, it was for other reasons

You lovable, but silly twit....When did ANY COMPANY rush into
a market to produce a product whose prices were FALLING????????????????!!!...;-)

Stay on food stamps, as the market economy is way above your capacity to understand.
 
Apparently it's not enough when production falls so far behind . Shutting down a jobs maker like the Keystone pipeline is foolish in this economy.
 
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