Quote:
Originally Posted by BigCatDaddy
So we should nationalize then?
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I would prefer not. I'm kind of a fan of capitalism.
One of the major influences in crude pricing is spare capacity, which is just a few million barrels per day. That's why when a war or natural disaster happens and crude production ceases, crude goes up dramatically with the fear (real or imagined) that supply cannot meet demand. If we started pouring a fresh, new supply of crude into the market, prices would drop.