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<blockquote data-quote="bbsam" data-source="post: 5195617" data-attributes="member: 22662"><p>No sir. Markets determine oil price. I have always maintained that Russia and Mideast powers have the ability to set prices based strictly on their decisions to increase or decrease production. State control of the industry gives them that luxury. The United States does not do that. Exxon, Shell and others decide production levels based on profitability. Russian oil sells because the world runs on petroleum products. American oil sells for the same reason. All of them are making serious bank right now.</p></blockquote><p></p>
[QUOTE="bbsam, post: 5195617, member: 22662"] No sir. Markets determine oil price. I have always maintained that Russia and Mideast powers have the ability to set prices based strictly on their decisions to increase or decrease production. State control of the industry gives them that luxury. The United States does not do that. Exxon, Shell and others decide production levels based on profitability. Russian oil sells because the world runs on petroleum products. American oil sells for the same reason. All of them are making serious bank right now. [/QUOTE]
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