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Politics : Moderate Forum

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To: TigerPaw who wrote (18137)	7/15/2005 12:42:17 AM
From: Sun Tzu	Read Replies (6) of 20773

Guys, I hear this kind of confusion all the time and it is wrong. Oil is a commodity. This means there little difference between the oil from Gulf of Mexico and that of Persian Gulf or anywhere else. Likewise it does not matter who is buying the oil. The price of oil is a function of aggregate supply and demand. So assume China buys out all the Caspian sea oil. Then they will need that much less oil from Russia or Saudi. It will not make a penny difference to the price of oil. And let's make no mistake, we will get the oil we want from somewhere at the market price.

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