DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Why no Senate hearings on gas prices this time round???

**sniskelsowwef** · 04-01-2011, 12:15 PM

Libya's contribution to oil supplies is in the neighborhood of 2%. They really don't move the needle. Additionally, oil prices have little to do with actual supply or demand. They're the product of cartel whims and commodity broker guesses.

And though it flies in the face of every "drill baby drill" cheerleader, drawing more oil out of American wells will also have minimal effect on oil prices because commodity pricing is not reality-based.

04-01-2011, 12:15 PM	#5
sniskelsowwef Join Date Oct 2005 Posts 506 Senior Member	Libya's contribution to oil supplies is in the neighborhood of 2%. They really don't move the needle. Additionally, oil prices have little to do with actual supply or demand. They're the product of cartel whims and commodity broker guesses. And though it flies in the face of every "drill baby drill" cheerleader, drawing more oil out of American wells will also have minimal effect on oil prices because commodity pricing is not reality-based.
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