77% Want Increased Domestic Oil...

[Deleted User]

What does our oil industry expert @Mad_son have to say about it?

[Deleted User]

Demand curve determines equilibrium.

Demand curve is elastic.

Price won't deviate much based on increases in supply.

Besides the poont is moot because oil prices are determined on Wall Street.

Hth Damone.

You can stop embarrassing yourself.

MikeDamone

CollegeDoog said:

Demand curve determines equilibrium.

Demand curve is elastic.

Price won't deviate much based on shifts in supply.

Besides the poont is moot because oil prices are determined on Wall Street.

Hth Damone.

You can stop embarrassing yourself.

The demand curve is elastic and the price won't deviate much on shifts of supply? Lol. You're arguing against yourself. I don't think you know what elasticity of demand means.

[Deleted User]

Edit: fuck me I'm drunk on a Thursday.

Meant to write inelastic, happy? Phone autocorrected.

Either way, increases in domestic production would be so minimal that price would stay the same. Like doogsinparadise pointed out oil is a global commodity and there's no need to increase production at the moment, so any US efforts to increase drilling would be met with international efforts to keep the price the same.

Everyone will still fill up their tank per usual if gas is $3 or $5 a gallon because there are no substitutes to oil.

Companies can fuck with us however they like to maximize profit. That's my point.

dnc

CollegeDoog said:

Demand curve determines equilibrium.

Demand curve is elastic.

Price won't deviate much based on increases in supply.

Besides the poont is moot because oil prices are determined on Wall Street.

Hth Damone.

You can stop embarrassing yourself.

When did you decide to go the self parody route?

Looks like you're starting to miss those Middlebury chicks. When do you go back east?

[Deleted User]

dnc said:

CollegeDoog said:

Demand curve determines equilibrium.

Demand curve is elastic.

Price won't deviate much based on increases in supply.

Besides the poont is moot because oil prices are determined on Wall Street.

Hth Damone.

You can stop embarrassing yourself.

When did you decide to go the self parody route?

Looks like you're starting to miss those Middlebury chicks. When do you go back east?

In 10 days.

To daily skiing and J term. Life will be good.

MikeDamone

CollegeDoog said:

Edit: fuck me I'm drunk on a Thursday.

Meant to write inelastic, happy? Phone autocorrected.

Either way, increases in domestic production would be so minimal that price would stay the same.

Everyone will still fill up their tank per usual if gas is $3 or $5 a gallon because there are no substitutes to oil.

Companies can fuck with us however they like to maximize profit. That's my point.

Nice try. Stop now.

PurpleThrobber

CollegeDoog said:

I have more Econ knowledge in my pinkie toe than you keyboard cowboys.

Meet a payroll and then pop off.

doogsinparadise

Matt Damon is doing an awesome job dissembling about what can be done with oil prices. Inquiring minds would like to hear solutions rather then bitching, but to each his own.

dnc

doogsinparadise said:

Matt Damon is doing an awesome job dissembling about what can be done with oil prices. Inquiring minds would like to hear solutions rather then bitching, but to each his own.

https://www.youtube.com/watch?v=BUa5oHgYV2k