That yes, Will puts it very well. The higher prices we are paying flow to all producers -- all oil nations and oil companies -- no matter where the physical commodity came from that we happen to be putting in our tank today.
My point is that this is spending that is not stimulating our economy but sapping it.
Marianne Lavelle
of DC
@
Mar 04, 2008 12:05:36 PM
Yeah, but it's a global commodity
Bartman, that very little of the physical oil from Saudi Arabia will show up in your tank isn't really that relevant. Oil is traded on a world basis, so the money going into the system doesn't care where it goes and the oil coming out doesn't care where it is from.
If demand increases in the US or in China or in New Zealand for that matter (if they all started driving Hummers), it affects the price everywhere and the money will go, yes, into the pockets of the Saudis (and Venezuelans and Texans, and so forth)
Will
of CO
@
Mar 03, 2008 23:20:26 PM
Message is clear
The message is the premisis.
Disregarding the Saudi misnomer, the message is quite clear. I think a tag of "nonsense" is diluting where a correction would serve better for clarity.
John Ray
of GA
@
Mar 03, 2008 12:45:06 PM
The Saudis produce about 1/8th of the worlds oil, and very little of what they produce comes here. So your premise is foolish nonsense.
MXajWYaPlySsZXhMM of @ Aug 10, 2009 13:02:57 PM
Gordon of LA @ Dec 24, 2008 11:26:57 AM
flow1800 of NM @ Jul 30, 2008 22:10:02 PM
Marianne Lavelle of DC @ Mar 04, 2008 12:05:36 PM
Will of CO @ Mar 03, 2008 23:20:26 PM
John Ray of GA @ Mar 03, 2008 12:45:06 PM
bartman of PA @ Mar 03, 2008 12:26:28 PM
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