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#1
Old 11-19-2012, 12:17 PM
res
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Default The U.S. will overtake Saudia Arabia as the world's leading oil producer by 2020

According to News stories

http://www.washingtonpost.com/busine...3ac_story.html
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#2
Old 11-19-2012, 01:17 PM
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Only eight more years of Man City being the richest football team...
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#3
Old 11-19-2012, 01:25 PM
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We are already producing a great deal of oil....and gasoline prices are still very high (for us, not compared to the rest of the world). This should put to rest the notion that drilling more and producing our own oil will bring costs down. The truth is Americans would never pay for the oil produced here what the rest world pays for it....and no way the companies will reduce their prices drastically.

Last edited by jabsRstiff; 11-19-2012 at 01:45 PM..
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#4
Old 11-19-2012, 02:23 PM
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There is a select few economists/analysts who argue that increasing production of oil domestically will not be much of a game-changer if ANY AT ALL. They argue that gas prices will remain high and WILL CONTINUE TO GO UP despite increased production.

It's quite alarming that they all basically say one culprit.

The value of the dollar has rapidly declined thus it doesn't matter how many barrels of increased production in oil the US produce domestically.

So unless the US government really gets down to the bottomline which is FISCAL DISCIPLINE. Not much will be achieved.
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#5
Old 11-19-2012, 03:17 PM
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Fully half of the US's 550 billion dollar annual trade deficit comes from oil. Eliminate that and you not only increase tax revenues, create hundreds of thousands of jobs here at home, but also reduce the influence of speculators to affect the price.
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