Another prank on Americans

Not to mention the fact that the pipeline could potentially contaminate the Ogallala aquifer, one of the largest freshwater sources in the country that effects at least eight states.

$4.05/gal? Dont know where YOU'RE buying gas but I'm still paying $3.25/gal

While it's clear that their is an open market and the oil from the pipe line isn't strictly American if there was more oil it would drive down the price.

Wow, sean, are you starting to think clearly? Your breath is waste on those who do not ... think clearly. Wait until the studies are done? ... Again? and again and again? Obama wants as much money to go to his brothers in the Middle East as possible. More every day I am thinking he got where he is today with the backing of those Middle Eastern brothers. Why else would he bow to the Saudi king?

Only prank is this post....as Sean pointed out, if the overall supply is increased the price will drop.

If it even appears there is going to be more competition and supply in the future, the price will drop.....OPEC would like to keep as many wells out of production as possible.

Sean,Alienated and 6fer In a pure and unmanipulated market your premise is correct, but when speculators can buy and hold petroleum off the market as is being done on hear say then you have sky rocketing prices. There is no decrease in the production of oil or mass increase in the use, so why the only the spike in price. The U.S did not buy oil from Libya or Iran and the straits have not been blocked and will not be blocked because it is Iran's life blood financially. 6 Fer when has the price of oil dropped since 1973, yet we have decreased our usage by increasing the mileage per gallon of automobiles and air Planes making home more energy efficient since the 1980's. Since the petroleum industry has become more of an oligarch With Mobil, Shell and British petroleum buying up all the small producers there will be no true competition only market manipulation. Alienated, since Obama has been in office for three years, who was responsible for buttering the pocket of the Middle Eastern brothers before his arrival. This is not a recent phenomenon.

Notice in ALIENateds rush to disagree with me he clearly didn't read my post. I didn't mention a thing about a test. If I had would have referenced that personally the only test I need on the Keystone Pipeline is the fact that the Republican Governor personally asked Obama to deny the permit. Star (our native Nebraskan) is a honestly she's a moderate not really a Republican but she's come out against it. So everybody this could effect directly is against it.

ALIENated blames everything on Obama. He's both a Muslim and a radical Christian. That's just how he rolls you get used to it.

The speculators are running prices up but Iran is acting real stupid. They are a bit crazy but they are also desperate people in a desperate situation. When they claim they might close the Strait of Hormuz I do take them at their word that they'd try and force us into a war.

The problem however D6fer that mgibbosh brings up that is legit is that really so few people are in the oil industry that they can kinda do set the prices to some extent at whatever the fuck they want. I'm never going to convince you that at a certain point you might not be a monopoly but you're close enough. The problem is it's hard to set hard rules for that and you need hard rules and what I'm about to propose isn't a hard rule it's a rule of thumb. If it's likely simply due to the number of players that it's likely they've solved the Prisoner's Dilemna you probably have too few players. I'll actually set up a post for that because I think it's worth both of discussion and a bit long to post all here.

funny thing is that with speculation, they can also lose their ass, but given the fact that liberal environmentalists have hamstrung the industry domestically for the past 30 years or so, it is a much safer bet.

Build a new refinery..... build keystone.....drill ANWAR, and then watch how the speculation market will dry up.

You're pretending speculators are tied to reality. They are at best only half tied to reality.

6 fer how can you loose your ass when there is very sellers in the market and they control a commodity that is a vital necessity to the economy and people to survive, and you are getting a 156 billion dollars in subsidies per year from the federal government whether you sell little or much. If oil companies are so hamstrung by environmental rules and regulations explain how mobil was the largest profit making corporation in the world in 2011.

Tell me how many millions of acres of land do oil exploration companies have that they have yet to drill a hole looking for oil, even in Anwar. If enviromental rules and regulations were a problems why wasn't more refineries and pipe lines built under Bush and Cheney who both were considered oil barrons and not strict enforcers of enviromental regulations, remember all the coal mine accidents and dust explosions causing fatal accidents in sugar and flour manufacturers under their administration.