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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (8799)	5/31/2009 9:00:45 PM
From: Brumar89	Respond to of 86356

"the economy fell off the cliff" means demand fell. Supply and demand determine price .... not who is in office. BTW "credit drying up" had nothing to do with prices falling. To the extent credit problems limit drilling, that will make the inevitable future rise in prices come sooner. Again supply and demand is the determining factor. No credit will mean marginal projects by marginal producers won't get funded in time limiting supply.

To: RetiredNow who wrote (8799)	6/1/2009 4:16:33 PM
From: Nadine Carroll	2 Recommendations Read Replies (1) \| Respond to of 86356

The oil market is one in which OPEC decides what price they will target and then they manipulate supply to try to hit those targets. They collapsed because the economy fell off the cliff and credit dried up for all sorts of projects. mm, you made these two statements within 10 minutes of each other. Do you honestly see no contradiction between them? If OPEC is so helpless before changes in world demand, then they can't be controlling the oil market after all, can they? Trying and succeeding are two different things.