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A new cold war?
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<blockquote data-quote="bbsam" data-source="post: 1287475" data-attributes="member: 22662"><p>Do you understand the nature of global markets? We don't "own the oil fields" in the middle east any more than we "own" the oil fields in North Dakota. There seems to be some FANTASY held by many that oil companies will start a mad drilling craze as soon as the Obama administration gets out of the way and gas prices will plummet. Absolutely not. Oil will be sold on the world market where companies get the best price. And if that price is not where oil companies want it, production will be slowed. "Supply and Demand" is not an absolute.</p><p> </p><p>Besides, "owning the middle east oil fields" would create all kinds of logistical nightmares. Hasn't a decade + worth of war taught you anything? And that was two relatively small countries. Imagine trying to "own" Saudi Arabia, Iraq, and Iran...yeah...good luck with that.</p></blockquote><p></p>
[QUOTE="bbsam, post: 1287475, member: 22662"] Do you understand the nature of global markets? We don't "own the oil fields" in the middle east any more than we "own" the oil fields in North Dakota. There seems to be some FANTASY held by many that oil companies will start a mad drilling craze as soon as the Obama administration gets out of the way and gas prices will plummet. Absolutely not. Oil will be sold on the world market where companies get the best price. And if that price is not where oil companies want it, production will be slowed. "Supply and Demand" is not an absolute. Besides, "owning the middle east oil fields" would create all kinds of logistical nightmares. Hasn't a decade + worth of war taught you anything? And that was two relatively small countries. Imagine trying to "own" Saudi Arabia, Iraq, and Iran...yeah...good luck with that. [/QUOTE]
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