Quote:

Over 80 % of the world's known oil is controlled by govts of nations, NOT oil companies ( unless you want to include nationalized oil companies, but they are, again, govt owned, thus the govt of that nation owns it ).


We have enough oil known in Alaska and much much more in the sea to solve our problems, write you reps in Congress to open it up to development, it will drop the prices incredibly, plus it makes the 100s of trillions of cubic feet of natural gas ( a by product of oil drilling production )will be available ( its enough to heat almost all the USAs homes for 200 years ). Its there, we just need to get our govt to let us get it.



That MIGHT be true, IF not for two things. One, the price is controlled more by speculation on the commodities market (since it doesn't cost $1 more now to drill for oil than it did 4 months ago, and taxes haven't increased $1/gallon in that time to my recollection), and therefore, with whatever flimsy excuse comes along to make speculators nervous (why is it nothing ever seems to CALM them to lower prices?!), they start buying up oil to hedge against this or that. Secondly, even if it were true that we have that much oil under us, do you think the oil companies, out of patriotism, aren't going to just sell whatever excess capacity they have to China, and India to satisfy their demand? OPEC and industry experts have already said that there is NO shortage of crude on the market right now, so I'm am not quite sure how increasing the supply of something that is already readily available will do anything except increase inventories.