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Originally Posted by dc_dux
ace...IMO, its irresponsible to speculate that 50% of the price of oil is due to US policies/regs without providing some type of data to support that claim. I didnt attack your claim...I asked you to back it up with factual information.
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On one level I have absolutely no idea where to start. US policy and regulations affect demand. US policy and regulation affect supply. The US is the largest consumer of oil in the world. US policy and regulation has a material impact on where and how oil resources are developed. The US is the engine that drives the oil market. I am not saying our policies and regulations are a failure, I just think it important that we know and understand the costs.
The current US posture of de-valuing the dollar is having a material impact on the price of oil. All these issues come back to US policy and regulation.
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I try not to draw conclusions without knowing the facts. I did the best I could by providing DOE data on the component cost of a gallon of gas...
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I am talking about the price of oil and you give data on the price of gas. I know gas is one of the prime uses for oil, but I don't get the connection between my premise and the data you supplied. The connection is not clear.
I have never suggested that oil production be deregulated. However, some regulations are excessive and are a net negative to society in my opinion, including the restrictions on producing or using oil from tar sands in Canada.