Price of gas going down substantially because of Iran deal! (radical, millionaires)
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No, it's dictated by supply and demand. Iran may play role in lowering oil prices even further but it's US producers putting pressure on OPEC that has lowered oil prices. OPEC is keeping supplies high hoping to kill off the US suppliers. In fact Iranian oil lowering prices even further could have some severe long term consequences for the price of oil. If the US suppliers go bankrupt they no longer have reason to keep supply high. you ,may pay a little bit less now but could end up paying a lot later.
No, it's dictated by supply and demand. Iran may play role in lowering oil prices even further but it's US producers putting pressure on OPEC that has lowered oil prices. OPEC is keeping supplies high hoping to kill off the US suppliers. In fact Iranian oil lowering prices even further could have some severe long term consequences for the price of oil. If the US suppliers go bankrupt they no longer have reason to keep supply high. you ,may pay a little bit less now but could end up paying a lot later.
Very good argument to not approve the Keystone pipeline!
Iranian oil will most likely go to China and India, so I'm not so sure it'll impact prices here all that much.
But it'll be good news to me if it really does happen.
Sure it will impact prices here. Oil is fungible, meaning that supply is one big pool from whch the refiners draw. We not get oil directly from Iran, but our primary sources (domestic U.S. Canada, and Mexican producers) will lower prices, if only because the Goldman Sachs trading desk will be shorting oil futures, not bidding up the prices.
Last edited by chuckmann; 07-18-2015 at 11:06 AM..
Very good argument to not approve the Keystone pipeline!
You don't seem to understand, if the US suppliers are no longer putting pressure on OPEC they will strangle the supply and we'll be back to $4 or $5 a gallon gasoline. When you are considering energy what is going to happen 6 months from now is no where near as important as what will happen 2 or 3 years from now.
Go Obama! And now, prices will fall even further. Obama's energy initiatives are working!
The cost of oil has dropped becsue of US production on private lands, it's despite his policies.
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