Originally Posted by Donger (Post 10173938)

Gasoline is "cheap" right now because crude is relatively low. ($94.35/barrel).

Crude has been dropping for a number of reasons:

1) Very strong supply, especially because of our increased domestic production

2) Things are cooling down in the Middle East (Syria, Iran and Egypt).

3) Weak demand. We are still using ~4% less gasoline than we were a few years ago.

Originally Posted by Fairplay (Post 10174050)

Wouldn't oil be cheaper to drill in the U.S. ?

Importing oil from halfway around the globe who have to be much more expensive. I don't understand.

Originally Posted by DaneMcCloud (Post 10174066)

I've also read it's because U.S. oil production is way up, which is also giving the US leverage in Iran.

Originally Posted by Donger (Post 10174075)

Yes, see #1. Although we don't import oil from Iran.

Originally Posted by Donger (Post 10174067)

Not necessarily. The cost of production isn't level. For example, drilling a hole in Texas and having the crude spray out equates to less production costs compared to drilling through 5,000 feet of rock and soil in the Gulf of Mexico.

Originally Posted by Fairplay (Post 10174091)

Wait, you said it is cheaper to drill in Texas right?

Then domestic oil should take off

Originally Posted by Donger (Post 10174075)

Yes, see #1. Although we don't import oil from Iran.

Originally Posted by Ace Gunner (Post 10174199)

not true. the DOD recently bought $1.5 billion from Iran

Originally Posted by Ace Gunner (Post 10174199)

& Iran is a supplier to OPEC, which supplies most US oil imports.

Originally Posted by Fairplay (Post 10174146)

The U.S. shipping natural gas to other countries is going to be huge don't you think Donger?

Originally Posted by Fairplay (Post 10174077)

Stupid Obama not building the keystone pipeline because of the enviroment.
I was reading where it causes much more polution to drive the oil over in trucks to deliver it from Canada. The liberals and commen sense do not go hand in hand.

Originally Posted by Donger (Post 10174276)

As I understand it, there is now a lot of Canadian crude being shipped by rail.

Originally Posted by Donger (Post 10174262)

:spock:

Originally Posted by Donger (Post 10174262)

Yes, Iran is part of OPEC. But it isn't like the OPEC members all put their crude into one big pot. We don't import Iranian crude, period.

And, no, we don't get most of our crude imports from OPEC.

Originally Posted by Ace Gunner (Post 10174344)

http://thecable.foreignpolicy.com/po...in_afghanistan

http://rt.com/news/iran-petrol-afghan-army-247/



keep spreading the lies comrade.

for truth look here;

http://www.eia.gov/tools/faqs/faq.cfm?id=727&t=6