bearfund

Options Trader: Friday Outlook

First you write:

In other words "We don’t care if there is no actual demand for the oil, we’re still going to drive prices to the moon!"

Then later, in a response, you write:

Also, no one is saying we shouldn't open up to more drilling but certainly you can't believe that asking the Saudis to pump more oil is a bad idea. We need the oil now.

Let's see, there's no demand (high prices are caused by speculators, not supply and demand) but we are desperate for oil. Which is it, then? I guess you mean what people usually mean, that Americans are desperate for *cheap* oil, because they are wasteful and inefficient and never learned their lessons from the last 3 times this happened. Begging the Arabs, drilling in Alaska, and upgrading refineries are all temporary solutions to a permanent problem. The solution is to consume less, period.