"Saudi cant pump enough oil to keep prices down"

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Originally Posted By: Trvlr500
Originally Posted By: FirstNissan
CATERHAM-i definetaly agree, I used to pay over $10 per gallon while I lived in Europe. My parents pay $9 per gallon and they live in Asia. Surprisingly, gas is dirt cheap in the States. No clue how that is the case!


Uh, that would be simple. Europe is a group of socialist countries. Asia is made up mostly of dictatorships. If you were to look at the taxes on their gas and oil compared to ours (which are far too high) you would see the difference. I would guess their rationed health care programs which are bankrupt and criminal make up the majority of the extra cost of gas. Then there are the castles the ruling class live in.

Our gas should be $1 a gallon and diesel should be .75 cents a gallon. Devaluation of the dollar and legislation designed to reduce the supply of oil in this country are the cause. Oil has been backing the dollar for decades so when the dollar goes down the oil goes up. The dollar has lost 90% of it's value since it was dreamed up in 1913 and recently it has lost even more of it's value with all the bailouts and TARP funding.

It's so easy to blame the oil companies and the "speculators" but there are many reasons our gas is more expensive than it should be and cheaper than other countries that are even more irresponsible and corrupt than the U.S. is. Anyone who thinks we should be paying 7-9 bucks a gallon for gas like they do elsewhere can move there and pay the $6-8 a gallon in taxes for social programs.

Why there are so many "Americans" who love to compare us to Europe I don't know. The point is, this isn't Europe and the closer it gets to Europe the worse off we become. Europe is a mess and copying their idiotic way of doing things is why we are in the mess WE are in.

If Europe is such a great place to live then everyone should move there. Personally, I think Europe is a joke as well a dictatorship just like most of the other countries so many want us to emulate. They didn't learn their lesson from the 20's and 30's because they are heading right back there again.

For the life of me I can't understand why so many want to follow their lead.



I totally agree.
 
Trvlr500

So if prices are currently being driven by the devaluation of the dollar, how is that supply and demand? Whether it's being driven by specualtors or by the dollar, either way it's still market manipulation.
 
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Oil prices are driven by devaluation of the dollar AND supply and demand and yes, you're right it IS market manipulation just like in the gold and silver markets and many others I suspect. There is a supply and demand side when it comes to dollars as well and there are way too many of them out there with nothing to back them.

The point I was trying to make in my post was that there a numerous reasons that the price of oil goes up and down and I think the "speculators" are just investing in what they see as a good investment.
 
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