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Erich Bloodaxe BSN

(14,733 posts)

1. oil is a fungible commodity.

Reply to packman (Original post)

Sat Aug 30, 2014, 12:26 PM

Aug 2014

If we don't buy it, someone else does, so if some other country gets shorted on what they normally buy, they look elsewhere to get what they need, even if it means paying more.

So trouble anywhere lets the greedheads drive up the price for all of us, because they can say 'Hey, if we don't, you'll be shorted and we'll just sell it to them folks over thar for the inflated prices'.

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Highlight:

Where our oil comes from - [View all] packman Aug 2014 OP

oil is a fungible commodity. Erich Bloodaxe BSN Aug 2014 #1

How is that second pie chart relevant to which countries people think we import oil from? Make7 Aug 2014 #2

Yeah, the OP is enough to make a data geek grind their teeth, isn't it? MH1 Aug 2014 #3

Nope, geopolitical events in the Middle East affect the world market price of oil. Spider Jerusalem Aug 2014 #4

No, it's not bullshit. NuclearDem Aug 2014 #5