Who owns all the oil? Don't the ones who own most of it live in Saudi Arabia?
Wouldn't it be logical to assume that if the Insurgency wants more money then they would certainly want to, if they in fact own large amounts of oil, raise the price to get more money to fight the US in Iraq and plan for future battles? That is, if some of the oil is owned by countries who sympathize with the terrorists and the insurgencies wouldn't that give rise to higher oil costs? And wouldn't that send a ripple effect causing higher prices across the globe in the oil industry as it is a fact of business that what is good business for one market is good for another meaning let's raise the price and make some money today in spite of the long term effects of major industries and consumer expectation.
Politics - 5 Answers
Random Answers, Critics, Comments, Opinions :
1 :
All the oil in the world is owned by Jesus, and, as the military arm of Christianity, it is the job of the US Military to liberate said oil from under the sand occupied by the heathens and use it to make the gasoline needed for Americans to drive their SUVs to church on Sunday. If you disagree with me, God will spank you with his mighty, invisible hand.
2 :
The US only imports 11 percent from Saudi. More is Imported from Canada aprox 13%. Mexico has the 2nd largest oil reserve in the world. The US imports 12% from them. On the large scale the US only imports a small percent from Saudi.
3 :
They won't raise the oil prices, when OPEC was pissed off and wouldn't sell to the US they almost clasped their economies, check out opec oil embargo 1973. If the raise the price extremely high and we couldn't afford it anymore the same thing would happen. Saudi Arabian royalty likes us anyways we make them lots of money they have their hands in our economy for an example a Saudi investment group owns 5% of chase bank, they don't want our economy to go down. As for the countries that don't like us like Iran, if they quit pumping oil or raise their price, Saudi arabia will increase production, they are not pumping at full capacity now. So in other words don't worry about it.
4 :
In Saudi Arabia the fat useless King and his family and friends. The majority of the people don't get a dime. That's why they have so many beggars. Regards.
5 :
Saudi Arabia is the heart of terrorism. The Royalty of that nation live in incredible wasteful wealth and splendor (no wonder they are adored by American Republicans); meanwhile the population resides in squalor. This is why the Saudi government supports the Wahabiist Schools which trains their young people that the reason for their misery is the Great Satan America. This misdirects all that justified anger at the west and keeps the Royalty safe from the needed revolution. They don't however produce or even sit on the lion share of oil. That distinction goes to Canada I think. It is also true that there are large untapped reserves in many locations right in the USA, and I don't mean just ANWAR. Texas has huge numbers of untapped fields. But the public can't be told that, because if we start really drilling here, the US will discover that the price won't really go down, as the international nature of the oil business will probably result in most of our oil being sold to the country with the most actual wealth... which is currently China.
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