Canada is producing a million barrels of oil a day according to Nightline. The story goes on to say that they could produce as much as 5 million barrels a day and that the oil reseves in Canada are more than Saudi Arabia and Russia combined. What does this mean? It means that there is no shortage of oil at all. In fact oil is very abundant. The answer to the million dollar question that you are asking is clear. Oil prices are high, because the oil industry owns the U.S government lock stock and barrel. The real price of oil should be in the two dollar range, but since the oil industry contributes to our lected officials campaigns we are being robbed blind. When they leave office they will convert their campaign funds into their personnel wealth. Talk about legal corruption. The money you donate will buy them a mansion in Palm Beach and dues to an exclusive clud that wouldn't let you cut their grass. What's the bottom line? Americans are wimps and the politicians know it. Add that to the ignorance of the majority of americans about their government and you get screwed consistently and they keep getting reelected. You have no idea how many times your elected officials have sold you out and you won't take the time to find out. Just one example of the arrogance of politicians is that to see Obama's website you have to donate and the man has pratically declared himself the winner so why have an election? Hell why not coronate him? You can pay 4 dollars a gallon to drive and then figure out that you lost money this year or you can park your cars and drive only when it's necessary. Your choice.
Labels: Business, Canada, Energy, huge oil reserves, Oil and Gas, OPEC, Petroleum industry, Price of petroleum, Saudi Arabia, United States