Senior Moron, who believes government controls oil and gas prices

Orlando FL

Description

Following are direct links to several articles you won’t read. The subject is how oil/gas prices are determined. SPOILER ANSWER: Supply & Demand. Not government, other than federal, state & local taxes, and temporary regulations. ——————————————————————— https://www.convenience.org/Media/conveniencecorner/Does-the-President-Control-Gas-Prices “ …policies and legislation can certainly play a role, but gas prices are largely dictated by oil prices and oil prices are dependent upon supply and demand. Presidential control is not as simple as what those posts suggest on social media.” https://www.eia.gov/finance/markets/crudeoil/supply-opec.php “The behavior of oil prices depends not only on current supply and demand, but also on projected future supply and demand. OPEC adjusts member countries' production targets based on current and expectations of future supply and demand.” Who controls OPEC? “ Saudi Arabia, which controls about one-third of OPEC's total oil reserves, plays a leading role in the organization. Other important members are Iran, Iraq, Kuwait, and the United Arab Emirates, whose combined reserves are significantly greater than those of Saudi Arabia.” https://money.howstuffworks.com/president-gas-prices.htm “ The truth is that no president — Democrat or Republican, friend of "big oil" or supporter of alternative fuels — can do much of anything to affect the short-term price of oil, and therefore gasoline. The overriding factor that determines the price of oil from day to day is the market principle of supply and demand [source: U.S. Energy Information Administration]. It comes down to simple economics: When demand is greater than supply, prices rise.” So, there you go Kev, you popped off before doing your research, proving yourself lacking sufficient knowledge to speak.