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Politics : Foreign Affairs Discussion Group
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To: Karen Lawrence who wrote (36967)8/11/2002 10:23:55 AM
From: quehubo  Read Replies (2) of 281500
 
The DOE Energy Information Agency provides a good description of the events, the legislation and their effects. Notice that price controls reduced US production in the early 70's.

eia.doe.gov

Perhaps a basic review of basic economic theory on supply / demand will help some:

home.rmci.net

Interesting to note that the world is producing roughly 77 mbpd of crude. The USA guzzles roughly 20 MBpd of crude with 8.5 mbpd of gasoline.

eia.doe.gov

Notice the lack of effort to reduce our dependence on foreign oil through efficiency gains. It seems most of the gains occurred in the 70's with not much improvement since.

Our enemies within OPEC must sell large quantities of oil ~$25 WTI in order to survive. We are supporting these Saudi tyrants with our insatiable thirst for gasoline.

I wonder how many politicians would survive if they tried to convince the US drivers / voters that a crucial part of the war effort could be reducing fuel consumption through efficiency?

OPEC's present control of prices is heavily dependent on our insatiable demand, a 10% improvement in US fuel efficiency would certainly make OPEC's job much harder and benefit our interests.

I have no problem with the US engaging in war to keep ME oil fields free from tyrants like Saddam and Islamists like OBL. But prancing around the Saudi's who are actively directly taking actions that have and will continue to cost American lives is not acceptable to me. The Saudi regime is surviving off of our excesses and we will live to regret it. Many families have already paid the ultimate price because of our excesses and poor policy.
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