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Posted by: Gransater 1 year, 7 months ago
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Gransater1 year, 7 months ago
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No. I'm saying that the oil used in Iraq has a greater overall influence than the so called increase in demand from countries like India and China.
In other words, I don't believe India and China has anything to do with world wide increase of cost. If you read my response, you'd note that I believe speculators on the futures market carry the largest blame for increases, hanging on every negative tidbit they can find as justification to bid up the price.
I'm certain you understood what I meant, even though you failed to address the other points, and chose instead to try to make the fuel usage in Iraq into a major issue. It isn't. You asked me what I considered had greater influence, NOT what was the major MARKET influence.
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Gransater1 year, 7 months ago
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Also, on a sidebar, our ally, Saudi Arabia has had its spokesperson more than once say that they have a surplus in the production of oil, and will therefore not acomodate US requests to increase production.
There is only two answers to that.
1 - They are lying and aren't really runing a surplus.
2 - US request for increased production blaming increased fuel costs on increased demand beyond production is a lie.
Which party is lying, as both can't be right?
Anyway, this is way of thread of this discussion, so I'm returning to it.
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