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Environment & Energy

comradebillyboy

(10,595 posts)

5. The US petroleum industry isn't a part of OPEC.

Reply to JohnSJ (Reply #1)

Tue Nov 19, 2024, 10:00 AM

Nov 19

OPEC which includes Saudi, Iran, the Gulf Arab states, Venezuela, the oil producing states of Africa and Russia are not controlled by US companies. The OPEC cartel has more control of world petroleum prices than the US. The Saudis and Russians are the most egregious price fixers. US companies don't control all global markets.

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Highlight:

Oh Well!!! "Drill Baby Drill" Won't Happen, Because Oil Companies Manage For Profitability, Not Quantity [View all] hatrack Nov 19 OP

Supply and Demand doesn't work very well with monopolies. The oil industry has manipulated prices before, JohnSJ Nov 19 #1

The US petroleum industry isn't a part of OPEC. comradebillyboy Nov 19 #5

Fracking will get a lot cheaper gab13by13 Nov 19 #2

I actually have a wild hope jfz9580m Nov 19 #4

Oh well! jfz9580m Nov 19 #3

Fracking is not new, it is newly profitable OKIsItJustMe Nov 19 #6