Comments by coreyo

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Posted on June 10 at 12:53 a.m.

Anyone who partakes in this strike has no clue why gas prices are so high.
At least try to look at the economics.
Is demand rising very fast?
China and India are growing very fast and consuming more and more oil. That adds to the rising prices.
Is supply changing or shrinking?
In the U.S., there hasn't been a new oil refinery built in decades. Why? It isn't because of greedy oil companies. They've tried to build new refineries, but the state governments have blocked these attempts. Exploration projects to find oil using new technologically advanced methods are also being blocked by state governments.
Are there any other factors?
Since the dollar hasn't been gold backed since 1913, it's been up to the federal reserve to keep inflation down. Adding to the rising prices of gasoline is the fact that oil is traded in dollar denominated barrels. With a cheapening dollar, the price of oil is gets relatively more expensive to the U.S. in the global market. Other countries haven't been hit as badly with the rising price of oil because their currency hasn't been inflated as much as the U.S.

It is really your government you should be protesting.You can't control demand, especially demand from other countries, unless you want war.

If you're asking for cheap oil, you should really be asking for more drilling and controlling inflation.

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