| deskpro2k3 said: Cheap gas in the US means that the US government or OPEC is trying to hurt old producing countries like Russia, and Venezuela. Hell, it can hurt the US too in the long run. |
It's not really OPEC but Saudi Arabria that decided to do this. They wanted to hurt two of their competitors, Canada and Mexico who are interesting enough part of OPEC, who had started to take some business away from them; and from the looks at some of the responses it is working. And goes to show that the market is basically in the hands of one country. They are sitting on the biggest oil reserve is the reason why they are in "control".
Though I have heard some idiot praise Obama for this, though it does have some ecconomic pluses it needs to stay at this price for a while until the "ripple" effects can be felt. It took about a year when they oil started to go up before logistics started to really adjust their prices and suppliers for my company follow after that.
