Lawmakers want to end oil shipments...

[123tim]

Lawmakers want to end oil shipments to US reserve.


In this article (about oil stockpiles and the price of oil) I found the quote below:


"Lawmakers' search for a response to high gasoline and oil prices comes as Bush is preparing later this week to travel to Saudi Arabia where he is expected to try to convince the Saudis to increase oil production. So far, Saudi Arabia and other OPEC countries have refused to do so, arguing the high price of oil stems from other factors than a shortage of supply"

Could someone tell me what the "other factors" are that OPEC mentions? Seems like that should have been included in the article.

Link to article:
http://news.yahoo.com/s/ap/20080513/ap_on_go_co/congress_energy

Thank you.

[constituent]

Lawmakers want to end oil shipments to US reserve.


In this article (about oil stockpiles and the price of oil) I found the quote below:


"Lawmakers' search for a response to high gasoline and oil prices comes as Bush is preparing later this week to travel to Saudi Arabia where he is expected to try to convince the Saudis to increase oil production. So far, Saudi Arabia and other OPEC countries have refused to do so, arguing the high price of oil stems from other factors than a shortage of supply"

Could someone tell me what the "other factors" are that OPEC mentions? Seems like that should have been included in the article.

Link to article:
http://news.yahoo.com/s/ap/20080513/ap_on_go_co/congress_energy

Thank you.


the declining dollar. i'm sure someone around here has the link to the wsj graph showing the cost of oil in dollars versus the cost of oil in gold.

[Cinderella]

the price of oil hasnt gone up.....the value of the dollar has gone wayyyyy down, thats why we pay more at the pumps....of course u can understand why they wouldnt want to mention that

[Uncle Emanuel Watkins]

Lawmakers want to end oil shipments to US reserve.


In this article (about oil stockpiles and the price of oil) I found the quote below:


"Lawmakers' search for a response to high gasoline and oil prices comes as Bush is preparing later this week to travel to Saudi Arabia where he is expected to try to convince the Saudis to increase oil production. So far, Saudi Arabia and other OPEC countries have refused to do so, arguing the high price of oil stems from other factors than a shortage of supply"

Could someone tell me what the "other factors" are that OPEC mentions? Seems like that should have been included in the article.

Link to article:
http://news.yahoo.com/s/ap/20080513/ap_on_go_co/congress_energy

Thank you.

Other factors contributing to the expense are the high costs necessary to teach stupid Iraqi people democracy when we aren't blowing them up.