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Old 04-23-2011, 02:24 PM   #36
TravelMan

Join Date
Oct 2005
Posts
421
Senior Member
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As I mentioned, more drilling and refining would help keep oil prices lower over the long term, but again, getting a new refinery running at full capacity would require a lead time of several years.

Because of the aforementioned refineries we already have that are at basically 100% capacity, no meaningful difference can be made with regard to altering our available oil supply within anything less than even the total possible years Obama could remain in office.

I can agree with CSA that not invading Libya might have helped, but then again, a large part of what drives oil prices isn't war but rather speculation.

I suppose Obama could opt to heavily regulate speculation, but I know you guys wouldn't support that.
"Speculation", as yo call it, is a vital part of the market. It is nothing more than market participants using incomplete information to make future predictions about the market, and then acting accordingly.

No, this "guy wouldn't support" price controls; they have a terrible track record.
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