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The Water Cooler
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Are low oil prices helping or hurting you?
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<blockquote data-quote="Nraman" data-source="post: 2795042" data-attributes="member: 10001"><p>The oil business has been controlled and monopolized, nowhere close to being a free enterprise.</p><p>A handful of companies and countries controlling the entire oil supply of the world. </p><p>In the US, the government controls production/price by allowing or not allowing drilling, just like the Saudis and the rest of the OPEC does. </p><p>Not that much different than the farm bill that pays the farmers not to grow to keep the prices too high and benefit the farmers and screw the consumers.</p><p>When fracking started the government tried to stop it and failed because it was done on State lands and lost control of production/price..</p><p>The US oil production went up, prices went down, trillions paid by the consumers to the companies/countries were lost. </p><p>A product that was never in short supply and was overpriced due to controls on production to rip off the consumer, dropped in price, still way too high thanks to government controls on production.</p><p>This may be a play by the Saudis to gain control of the prices by destroying the fracking industry, or Putin, or the natural result of some competition from fracking.</p><p>Eventually they will regain control and continue the rip off. Money talks BS walks.</p><p>In the mean time we are going through some bad times as things get readjusted. It is not the first time, I know that it will hurt us all, it already hurt me, hopefully the overall effect on the nation will be a positive one</p><p>with the consumers saving enough to help the economy.</p></blockquote><p></p>
[QUOTE="Nraman, post: 2795042, member: 10001"] The oil business has been controlled and monopolized, nowhere close to being a free enterprise. A handful of companies and countries controlling the entire oil supply of the world. In the US, the government controls production/price by allowing or not allowing drilling, just like the Saudis and the rest of the OPEC does. Not that much different than the farm bill that pays the farmers not to grow to keep the prices too high and benefit the farmers and screw the consumers. When fracking started the government tried to stop it and failed because it was done on State lands and lost control of production/price.. The US oil production went up, prices went down, trillions paid by the consumers to the companies/countries were lost. A product that was never in short supply and was overpriced due to controls on production to rip off the consumer, dropped in price, still way too high thanks to government controls on production. This may be a play by the Saudis to gain control of the prices by destroying the fracking industry, or Putin, or the natural result of some competition from fracking. Eventually they will regain control and continue the rip off. Money talks BS walks. In the mean time we are going through some bad times as things get readjusted. It is not the first time, I know that it will hurt us all, it already hurt me, hopefully the overall effect on the nation will be a positive one with the consumers saving enough to help the economy. [/QUOTE]
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