Originally Posted By: chubbs1
Originally Posted By: Kaboomba
IT IS BECAUSE OF A MORITORIUM ON NEW DOMESTIC OFFSHORE DRILLING, AND THE PROSPECT OF CHINA'S INCREASING DEMAND FOR OIL. DUH. READ THE PAPERS.
P.S. Sorry to have to do that.
You get loud I'll get loud, and I ain't even the OP. We had China roaring and no moratorium on drilling last time the prices went crazy. It is the Oil Co's jacking us for the holiday driving season like they have been doing forever. Keep it real HOMEY!!
PS: Sorry I have to do that;(
Clearly you are not aware of the real trends of the last ten years.
Originally Posted By: chubbs1
...last time the prices went crazy.
Yes, China was (and still is) booming. At the same time, US demand was the highest ever in history--Americans' willingness and ability to buy fuel was greater than ever, ever, ever before. When new drilling started, and promised greater supply, prices slipped some.
Then, thanks to the collapse of the housing market, all connected credit, and our economic slowdown, US demand for oil fell over backwards while China's kept growing (albiet at a slower pace), and we had another relaxing of prices.
Later, Deepwater Horizon snafued, and we got
THIS as a direct result.
Meanwhile, as China's demand continues to grow, and Venezuela's output falters due to Chavez's takeover of most of the country's producers, we in the US are buying more fuel as we struggle to build our economy up again.
Look up the primary source material on my factual assertions before decrying my conclusions.
Smoke it, bud.