stumpy
Founding Member
Posts: 430
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Post by stumpy on Jan 17, 2014 14:41:05 GMT -6
According to the latest oil business report, the delay in the keystone project will definitedly drive the price of crude up in the very near future. Obama wants the oil companies to increase their buying from the oil-rich middle eastern countries with whom he has a close relationship. He does not want us to buy from South American interests.
Helping me? When the supply of oil begins to squeeze down, just what do you think will become with the price? It won't go down that's for sure. The oil companies think that $1.50 a barrel will be the norm for a couple of years or until a republican administration opens up the Keystone delivery system. The Canadian government has just approved finishing the pipe line to their western coast so that the Asian countries can get oil at a much cheaper price. In fact some speculators are poised to buy that oil from Canada - ship it out to Mexico - and then bring in back into the US across both California and Texas depots. Then the Obama administration can charge more taxes on the imports.
Isn't our government just the smartest thing you've ever seen? I hope my royalty checks double and tripple soon.
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