Regulations are a factor affecting the price of oil. I don't think that is in dispute. The question is how much?
US policies are a factor affecting the price of oil. I don't think that is in dispute. The question is how much?
There are other factors affecting the price of oil, i.e. supply, demand, profits, etc. I don't think that is in dispute. The question is how much?
Just for thought. Since this thread started the price of oil has gone up close to 10%. There has been no material shift in demand, supply, no natural or accidental catastrophes that would impact the price of oil. The only thing going on is how the US is responding to the current financial mess. Every day we are seeing a price move purely based on headlines and US policy as it relates to those headlines.
I say 50% of the price of oil is currently due to US policy and regulations. DC and Baraka think my number is unrealistic, but don't give their estimate, they simply attack mine in a manner that lacks clarity.
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