The price of anything is determined by supply and demand. Do you really believe BIG OIL is going to cut you a deal and sell to you cheaper than to the Chinese. OPEC will still control the price. Our only out would be to bomb China and India back into the stone age. Also that would help our poison control center.
barbra ann
If we were energy independent the oil co’s would be making all the money from oil to refined products instead of buying the crude. They would make a lot more money. OPEC will not control the price of oil we drill on our own. OPEC’s stranglehold on the price will be over. I don’t see how you can say OPEC will still control the price. Their only leverage now is that they have something the rest of the world needs. We have over one trillion barrels of shale oil that is produceable at 30/bbl. The technology is there. We have over 100 billion barrels of crude available if we just drill it.
IF we could eliminate the suicidal environmental restrictions oil would be 30/bbl and gas would be under 1.50 and OPEC would be something for the history books and terrorist funding as well as the wahabi’s would be largely defunded.