...drilling everywhere, the price of gasoline in the United States will instantly drop.It's not nearly that simple. Oil-producing nations determine the output of oil, then the laws of supply and demand kick in when the crude flows into the free...
...still reverse themselves. Hurricanes in the Gulf of Mexico, inflamed Middle East tensions or fighting in a major oil-producing country like Iran or Nigeria could reduce supplies. A surge in world economic growth could increase demand.Gasoline...
...Wednesday's session are making decisions difficult.The unrest in Libya and Yemen threatens to destabilize larger oil-producing nations in the region. The two countries normally produce less than 4 percent of the world's oil needs, and Saudi...
...barrels per day.The oil market has been worried for months that unrest in Libya and Yemen could destabilize larger oil-producing nations in the region. The two countries normally produce less than 4 percent of the world's oil needs. Saudi...
...goods and services. And not all spending on gas contributes to the U.S. economy because some of the money goes to oil-producing countries. GDP figures are also inflation-adjusted, so spending $1 more for a gallon doesn't mean $1 of additional...
...It's about jobs," he said. "It's about making sure we're less and less dependent on the thugs (in unfriendly oil-producing nations) who want to kill us."Congress continues to hold hearings to find out what caused the blowout, who's...
...Aiken. There is no reason why America's energy needs should continue to be at the mercy of a handful of radical oil-producing regimes, including Iran and Venezuela, that would like nothing more than to destroy our economy and our global leadership...
...rain. You guys stink. AN AUGUSTA CHRONICLE reader suggested in Rants & Raves that we should stop selling food to oil-producing nations. I disagree. I feel we should send them food at $155 a bushel. Then, keep the price on par for what they...
...States, considered the world's lone superpower since the fall of the Soviet Union, is completely at the mercy of oil-producing nations, many of whom wish us ill while happily cashing our checks. Gasoline prices have skyrocketed as the cost...
...with the public as Congress is. Yet the real villain behind endlessly rising oil prices is OPEC -- the cartel of oil-producing nations, mostly in the Mideast, who keep oil prices artificially high. To its credit, Congress is catching onto...
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