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Originally Posted by aceventura3
I am not sure I want to get into this trap. Are you suggesting by your question that there are no regulations driving up the price of oil? Or are you simply suggesting that the trade off on the cost of the regulations are off-set by the benefits in other ways? If you are suggesting, the second, I agree there are trade-offs, but the measurement is subjective. You can safely assume that I think the market is overly regulated.
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ace....its not a trap.
You are the one who suggested:
"I am saying US government policy and regulations are primarily responsible for the current price of oil."
Of course regs have an impact. And there are trade offs for environmental protection, worker safety, etc.
I simply asked
what regulations are primarily responsible for the current price of oil as suggested in the OP and how is the current price impacted by a law that was enacted last year that has yet to be implemented and wont be for several more years at a minimum?
Its like Rove saying the price of gas will rise to $5 if we "cut and run" from Iraq...while ignoring the fact that the price of gas more than doubled in the 5 years of our invasion and occupation.