Newt explains why oil companies make more money with less supply and that inaction on drilling and other sources of energy is what is reallymaking oil companies rich.
Duh ya think … Duh ya think producing oil at 1920’s rates (and declining every year) in America just might have something to do with the price??? DUH? And I guess it’s more “ECO” friendly to transport it across the ocean (If you’re retarded)
We are currently … We are currently sending over $700b to foriegn producers and even if the price stays the same, wich it won’t, at least it will be given to American Oil companies. Produce it here and keep the money here.
allowing for … allowing for domestic drilling will make the supply more elastic. and prices will go down because even if we get less imports that oil that is not imported will go to china or india. if we put more oil in the market we will see prices go down. i think that you are not seeing the bigger picture the oil market is global. and i think that we would be in a better place now if we had started drilling a while ago.
No, no Dozierkh. … No, no Dozierkh. There will be no net change in the supply. Produce more domestically and they’ll just import less to keep the supply tight. NO BUSINESS intentionally buys more inventory than they need for crissakes! Do you really think that they’ll invest all of that money and then turn around and charge us LESS?! NO, it will sell at the same price that the word dictates. Do you NOT remember WHO this man Gingrich IS and believe him?!
Swag, NORMALLY this … Swag, NORMALLY this is how supply and demad works but there are other factors at work with commodities like this. You have a select few making it available and the free market and futures have hand in determining prices. Products produced domestically will sell for no cheaper as they’ll stop importing from overseas and the net change in supply will be ZERO as will the change in pricing. THIS IS A RUSE!!! They’ve been trying to drill offshore for DECADES!
Sailor, oil prices … Sailor, oil prices are not set by “Bidding”. Another reason the prices are rising is because of he dollars decline. Dollar went UP and the per barrel price of oil went down along with the NORMAL gasoline price decline after summer ends.
DRSDanny, you’re … DRSDanny, you’re another dreamer who has no clue as to how the market functions. Proximity has nothing to do with the price. In Calif we get NO oil from overseas and yet pay the most for gasoline. Price is determined by the world’s commmodities markets, not by distance from your home!Are you really that naive to think that they’ll sell it to us for cheaper than they can get elsewhere?! THAT is Economics 101, not your silly idea of regulations, etc.
You must be either … You must be either young, naive or forgotten his years in the House. This guy is Rupert Murdoch’s poodle and is doing this for big oil’s benefit, not ours. Price is determined by the global marketplace and has nothing to do with proximity. Do you believe that they’re going ot invest BILLIONS to get the new oil and then charge us BILLIONS less? That’s pretty dumb! They’re going to sell it at the fair market value which will be no less than we’re paying now – Wake the F up dreamer!
I agree with you … I agree with you completely, Newt, and signed the “Drill here Drill Now” petition. I think a lot of Americans have been fooled by the media into thinking that “big oil” is the problem. The problem is incompetent govt regulations stopping us from using our own resources. Oil prices are dropping due to market demands dropping, just like economics 101. But there is still too much money going to foreign govts for a resource that we could be self-sufficent on if we would choose to be.
i think you need to … i think you need to study economics some more, everone knows that oil is a inelastic commodity that means that as supply is reduced the profits increase more than the demand decreases. therefore less oil in the market the more money for the oil giants. the correlation works the otherway around as well, if the supply increases the price drops more substancially. look up inelastic demand, that is exactly what oil is today, simply put our economy needs it too much to just stop buying it.
I say its the … I say its the specluators, atleast in this point in time…Yes as China raises in power we’ll have a more direct bidding with them whereas we will have to drill to get more oil to maintain prices. At the current point in time though it is all speculation…as you can tell by now declining gas prices after the US goverment released a study basically showing that people are using less oil due to prices. That is the market. When its too expensive don’t use it.
How true Newt … How true Newt Gingrich is, Produce More and the Price will come down. It’s that simple, so why can’t we get an engergy bill passed by Pelosi?
This man will be … This man will be President of the United States of America one day. And then American will once again shine her magnificence throughout the entire world.
No it isn’t! Are … No it isn’t! Are you sitting down? Did you know that oil reserves in Mexico are REFILLING THEMSELVES!? And that oil reserves in Montana and Alaska are HUGE! Oil isn’t really a fossil fuel, and the earth is actually making more. So why is oil our enemy? By drilling our own oil we will lower oil prices. And did you know that most of that $4.25 a gallon is in TAXES? We need to lower taxes and start drilling because ladies and gentlemen we have reached the tipping point.
Newt explains why oil companies make more money with less supply and that inaction on drilling and other sources of energy is what is reallymaking oil companies rich.
August 21st, 2009 at 7:30 am
Duh ya think …
Duh ya think producing oil at 1920’s rates (and declining every year) in America just might have something to do with the price??? DUH? And I guess it’s more “ECO” friendly to transport it across the ocean (If you’re retarded)
August 21st, 2009 at 7:30 am
We are currently …
We are currently sending over $700b to foriegn producers and even if the price stays the same, wich it won’t, at least it will be given to American Oil companies. Produce it here and keep the money here.
August 21st, 2009 at 7:30 am
allowing for …
allowing for domestic drilling will make the supply more elastic. and prices will go down because even if we get less imports that oil that is not imported will go to china or india. if we put more oil in the market we will see prices go down. i think that you are not seeing the bigger picture the oil market is global. and i think that we would be in a better place now if we had started drilling a while ago.
August 21st, 2009 at 7:30 am
No, no Dozierkh. …
No, no Dozierkh. There will be no net change in the supply. Produce more domestically and they’ll just import less to keep the supply tight. NO BUSINESS intentionally buys more inventory than they need for crissakes! Do you really think that they’ll invest all of that money and then turn around and charge us LESS?! NO, it will sell at the same price that the word dictates. Do you NOT remember WHO this man Gingrich IS and believe him?!
August 21st, 2009 at 7:30 am
Swag, NORMALLY this …
Swag, NORMALLY this is how supply and demad works but there are other factors at work with commodities like this. You have a select few making it available and the free market and futures have hand in determining prices. Products produced domestically will sell for no cheaper as they’ll stop importing from overseas and the net change in supply will be ZERO as will the change in pricing. THIS IS A RUSE!!! They’ve been trying to drill offshore for DECADES!
August 21st, 2009 at 7:30 am
Sailor, oil prices …
Sailor, oil prices are not set by “Bidding”. Another reason the prices are rising is because of he dollars decline. Dollar went UP and the per barrel price of oil went down along with the NORMAL gasoline price decline after summer ends.
August 21st, 2009 at 7:30 am
DRSDanny, you’re …
DRSDanny, you’re another dreamer who has no clue as to how the market functions. Proximity has nothing to do with the price. In Calif we get NO oil from overseas and yet pay the most for gasoline. Price is determined by the world’s commmodities markets, not by distance from your home!Are you really that naive to think that they’ll sell it to us for cheaper than they can get elsewhere?! THAT is Economics 101, not your silly idea of regulations, etc.
August 21st, 2009 at 7:30 am
You must be either …
You must be either young, naive or forgotten his years in the House. This guy is Rupert Murdoch’s poodle and is doing this for big oil’s benefit, not ours. Price is determined by the global marketplace and has nothing to do with proximity. Do you believe that they’re going ot invest BILLIONS to get the new oil and then charge us BILLIONS less? That’s pretty dumb! They’re going to sell it at the fair market value which will be no less than we’re paying now – Wake the F up dreamer!
August 21st, 2009 at 7:30 am
Man this guys is …
Man this guys is awesome
August 21st, 2009 at 7:30 am
Newt 2012
Newt 2012
August 21st, 2009 at 7:30 am
I agree with you …
I agree with you completely, Newt, and signed the “Drill here Drill Now” petition. I think a lot of Americans have been fooled by the media into thinking that “big oil” is the problem. The problem is incompetent govt regulations stopping us from using our own resources. Oil prices are dropping due to market demands dropping, just like economics 101. But there is still too much money going to foreign govts for a resource that we could be self-sufficent on if we would choose to be.
August 21st, 2009 at 7:30 am
i think you need to …
i think you need to study economics some more, everone knows that oil is a inelastic commodity that means that as supply is reduced the profits increase more than the demand decreases. therefore less oil in the market the more money for the oil giants. the correlation works the otherway around as well, if the supply increases the price drops more substancially. look up inelastic demand, that is exactly what oil is today, simply put our economy needs it too much to just stop buying it.
August 21st, 2009 at 7:30 am
you’re wrong. …
you’re wrong. speculators can’t inflate the price, because they have to eventually SELL what they buy.
August 21st, 2009 at 7:30 am
I say its the …
I say its the specluators, atleast in this point in time…Yes as China raises in power we’ll have a more direct bidding with them whereas we will have to drill to get more oil to maintain prices. At the current point in time though it is all speculation…as you can tell by now declining gas prices after the US goverment released a study basically showing that people are using less oil due to prices. That is the market. When its too expensive don’t use it.
August 21st, 2009 at 7:30 am
How true Newt …
How true Newt Gingrich is, Produce More and the Price will come down. It’s that simple, so why can’t we get an engergy bill passed by Pelosi?
August 21st, 2009 at 7:30 am
what a genius!!
what a genius!!
August 21st, 2009 at 7:30 am
Oops… you are …
Oops… you are wrong.
August 21st, 2009 at 7:30 am
you are a great …
you are a great American Mr. Gingrich. You tell it straight up, no fluff, well spoken and clear as a bell. Enjoy you on FoxNews.
Drill now, drill safe, drill for America!!
August 21st, 2009 at 7:30 am
this guy is ing …
this guy is ing awesome
August 21st, 2009 at 7:30 am
Common Sense …
Common Sense Prevails!
August 21st, 2009 at 7:30 am
This man will be …
This man will be President of the United States of America one day. And then American will once again shine her magnificence throughout the entire world.
August 21st, 2009 at 7:30 am
This man is one of …
This man is one of the great Americans of our time…..
August 21st, 2009 at 7:30 am
I saw this the day …
I saw this the day Newt was on CSPAN and I sort of did a double take and said, “Holy crap! This makes so much freaking sense!”
August 21st, 2009 at 7:30 am
No it isn’t! Are …
No it isn’t! Are you sitting down? Did you know that oil reserves in Mexico are REFILLING THEMSELVES!? And that oil reserves in Montana and Alaska are HUGE! Oil isn’t really a fossil fuel, and the earth is actually making more. So why is oil our enemy? By drilling our own oil we will lower oil prices. And did you know that most of that $4.25 a gallon is in TAXES? We need to lower taxes and start drilling because ladies and gentlemen we have reached the tipping point.
August 21st, 2009 at 7:30 am
Uh… if the price …
Uh… if the price goes down in the US, it goes down elsewhere, too. Silly.