If Oil is set by supply & demand economics, why is Bush begging the Saudis to increase oil production?

Is it that simple? Why didn't he beg them three months ago?If Oil is set by supply %26amp; demand economics, why is Bush begging the Saudis to increase oil production?
I don't buy anything when it comes to oil prices. its not based on Saudis, its not based on supply and demand, its based PURELY on Speculation.





DID you know that Oil is only 86 dollars a barrel but the reason they say its 124 is because of future contracts for oils.





We have more than enough resources in the US to increase oil products without going to Alaska. FACT! If we just added 3 -5 refineries in the US, in 5 years we could use the production to counter the demand of China and India. So again the record prices have NOTHING to do with supply and demand!








The reason what oil is going up is because the investors want prices to go up. I mean what other industry can guarantee such returns based on the hypotheticals. The fact is anybody can make oil prices go up. All one has to do is dress like some crazy Islamic (not even be one just look like one) and walk around an oil refinery or well. He will be spotted and reported and boom Oil is up 5 percent!





Thats how oil prices work do not believe anything else. And after a while they figure paying a guy to dress like an Islamic is too much. So then they just pull S*** out of their ***! There just happy we don't understand farsi or arabic.If Oil is set by supply %26amp; demand economics, why is Bush begging the Saudis to increase oil production?
With India and China consuming more and more, it has been and will continue to be a supply and demand issue, and the price being set by OPEC. The problem is that most people do not understand supply and demand economics and what the structure is of the cost of gas per gallon. Do you know that we are using more oil now than EVER before! People are driving at an alarming rate. Do you realize how much petroleum鈥檚 used in making plastics and then how many things we use are made of plastics? The oil company makes about 12 cents a gallon as profit. The rest is made up of Federal and State taxes, the cost of exploration and the cost of production, Refining and then the cost of the additives that we have to put in the gas (we call it designer gas, thanks to the environmentalist wacko's). Do you know that we have not built a refinery in almost 60 years? (thanks again environmentalist). The refineries that we have are working at capacity and that is not enough to keep up with demand. Do you know that we hardly get any oil from the Middle East? Yes we are not in Iraq for oil, they have enough to export but not as much as you think. Even iran imports most of their oil. Most people think that is where it all comes from. Not true. We get our oil form Canada, Mexico, Venezuela and Africa, in that order. What we get from Saudi is a very small %. You want the cost of gas to drop....STOP driving or at the very least cut back 10% and you'll see gas prices drop. In addition to that we need to open up the ANWR for drilling and off our coasts and the Gulf, as well as exploit the new found pools in the Wyoming Range (thanks again environmentalist) OR come up with an alternate fuel. Even if you had a viable economic alternative fuel source, the production and the distribution of it is decades away. Wake up people, cut back!
He is begging them to increase the supply, increased supply will lower price. As to the timing, he can now argue that our economy is being hurt, which will in turn hurt their economy. Or maybe he just really does care about the people of this country (despite what the media says) and sees things getting worse.





Or maybe he doesn't want us cutting back on our usage (due to high cost), maybe he is pro-global warming and wants people to burn as much oil as possible. According to Al Gore's book, ';Earth in the Balance';, the best thing that could happen as far as the environment goes, would be $8 a gallon gasoline.
Maybe he wants to buy an SUV.


But really, why would they comply?


It's in their best interest to increase prices.


Maybe we should all trade in our big cars for smaller ones...would it really be that horrible.


That alone would be likely to tip the scales in our direction and there would once again be enough oil and the prices could go down without having to bed to anyone.


Yes, I know I made a typo above...it just seems more like we are bedding them than begging them sometimes.
He did ask them two months ago and in December as well . . . asking the Saudis to increase production increase supply which in theory lowers the price . . .
He is just assuring them that they will get all the money from the US, just keep raising the dollar of a barrel...they will beg me to open the reserves %26amp; then I will make lots of money too!!
he has asked them several times to increase oil production
He did and so did Chaney... Increased usage in China and India is causing the price to go up..