If Oil Reaches $175 A Barrel. It is Time To Arrest all Responsible is Long Overdue
There is no reason for oil to be at this price. We are not short on oil.We have plenty of oil in this country to support our energy needs for many centuries. What our problem is we have a cabal of Bankers and Oligarchs in the oil companies all the way to high finance colluding to create artificial scarcity as an excuse to raise the cost on the price of a barrel of oil. It has been on record many of these energy giants funded the Environmental groups as cover to use the arm of the the court, government regulation and laws passed by congress to shut down drilling and exploration.To prevent the building of new refineries and uncap wells that already exist.
The lack in enforcing the anti trust laws allowing oil companies like Exxon-Mobile and Shell-Texaco to merge.These energy giants colluded and agreed to shut down refineries so a bottle neck starts to create an artificial scarcity. Anti trust laws were not enforced to protect the people from unfair business practices and unfair competition that hurts the people.Smaller oil companies can not not start up or build any new refineries to compete because the force of government keeps the monopoly in place so no real competition can take place selling oil at an affordable price. Monopolies only grow when there is government collusion with corporations.They do not happen in a free market economy.
Seeing the surge in the price of oil over $110 a barrel with speculators predicting $175 does not have to happen. The President says”get use to high gas prices”. I have no confidence when he makes such statements.We have oil wells capped ready to send oil to refineries in Alaska in the north slope and gull island. There are plenty of oil wells in Texas capped and not used that can be going through the cracking process to be refined. We do not need to drill and explore for anymore reserves.The illusion of we need to drill offshore and find new reserves is just a rouse to me.To me that is a delay tactic to keep the price up. There are plenty of capped wells ready to go online all over America.