Gas prices set record: 1,000 days above $3 a gallon

ocean515 said:

Energy companies have a fiduciary duty to their stock holders, many of whom are the large pensions funds that depend on their dividends to fund benefits payments. In addition to generating revenue, they must continue to explore for more oil, and prepare for the day they transition to new forms of condensed energy they can sell.

Our future energy needs will almost certainly come from Hydrogen Fuel Cell technology, of which the energy companies will continue to play a central role. Such a transition will take a significant investment on the part of these companies, which the current profits are providing revenue to support.

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rocket88 said:

Absolutely. I'm not vilifying them at all. They're doing what a corporation tries to do, which is to make money.

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sawyerloggingon said:

Obama's anti oil policies have created an artificial supply and demand imbalance.

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Sharona said:

China and the East are buying more oil ..... market demand changes.

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Bronson said:

We certainly can hold him accountable for trying to start more unjust wars in the ME and keeping this country dependent upon foreign oil

We should be fracking here and becoming energy independent. Instead our economy is held hostage by radical eco extremist wackos pushing lies and scams like Global Warming and electric cars

ND posts record annual oil production again - Yahoo Finance

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Khayembii Communique said:

There is no such thing as "energy independence". It is a complete myth.

Even if you completely deregulated fracking and oil production, opened up drilling in Alaska, pretty much whatever, it would hardly make a dent in resource prices on the global market. Now, if you, a libertarian, want to make an argument for some kind of government restriction on imports, certainly feel free. I think we would all find it amusing, not just the obvious, but also the fact that you would be attacking the American refining industry, which is enormous and makes boatloads of money importing crude to refine and export.

As for electric cars, what's wrong with that?

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sawyerloggingon said:

Supply and demand for one, increase supply and you change the equation. Then there is the psychology of commodity traders, if they see fed lands being opened up to drilling and see more oil coming in the future they will bid the price of oil down.

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