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Politics : Foreign Policy Discussion Thread

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To: zonder who wrote (1620)	1/3/2003 8:09:28 AM
From: Brumar89	Read Replies (1) of 15987

Now let's see... Do you think the oil corporations who financed the elections of the oil people in the administraton (incl. Bush) elected will want low oil prices? What do you think? I think they like oil prices fine where they are. But I know it doesn't make any difference what they want. Unlike what many believe the multinational oil companies have no control over the price of oil. They can't even predict very well what the price will be in the future. The history of booms and busts, the billions of dollars wasted on high cost energy developments, the expansions followed by paniced downsizings demonstrate this truth. (Sure, oil prices will ease from the current peaks as the war fears subside, but I bet there will be no significant increase in production that will fundamentally lower the oil price. It is not in the interests of US oil corporations.) Each one makes its independent production and investment decisions. The US oil companies do not have a cartel. They are price responders not price setters.

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