Autopia.org - View Single Post - Are you annoyed with the high gas prices?

Yal · 06-05-08, 08:06

Like I said in an earlier post, every country on this planet has oil if they want it. There is no cut in supply and there is no shortage. OPEC isn't increasing production because they do not have to. The only reason for them to increase production is to reduce prices. But OPEC does not want to become some kind of world financial bank that controls world prices and nor should they want to be.

The solution is economic. Our currency is devalued, the housing crisis is forcing investors to safe havens like gold and oil (the price off gold has shot up too), demand has risen especially with the war. Its purely market forces driving this. One thing is for sure, we won't see gas under $3 ever again by the time its all over.

06-05-08, 08:06	#101 (permalink)
Yal Registered User Yal is offline Join Date: Sep 2006 Location: NY, Long Island Posts: 733	Re: Are you annoyed with the high gas prices? Like I said in an earlier post, every country on this planet has oil if they want it. There is no cut in supply and there is no shortage. OPEC isn't increasing production because they do not have to. The only reason for them to increase production is to reduce prices. But OPEC does not want to become some kind of world financial bank that controls world prices and nor should they want to be. The solution is economic. Our currency is devalued, the housing crisis is forcing investors to safe havens like gold and oil (the price off gold has shot up too), demand has risen especially with the war. Its purely market forces driving this. One thing is for sure, we won't see gas under $3 ever again by the time its all over.