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To: Toddsterpatriot
Ok Willie, if domestic oil production drops 1 million bbls/day and world production increases by 3 million bbls/day and consumption remains the same, what happens to the price?

It increases because we've become less productive and the trade and budget deficits combine to devalue our currency.

35 posted on 11/30/2004 10:12:09 AM PST by Willie Green
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To: Willie Green
It increases because we've become less productive and the trade and budget deficits combine to devalue our currency.

Wow!! An extra 1 million bbls/day will cause our currency to be devalued? That will have a larger effect than an extra 2 million bbls/day sloshing around the world oil market? Interesting theory with no basis in fact.

How about if we produced all 16 million bbls a day we consume and then the Saudi Arabia's oilfields and pipelines were destroyed. What happens to the price of our oil?

36 posted on 11/30/2004 10:28:14 AM PST by Toddsterpatriot (Protectionists give me the Willies!!!)
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