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Whom would you give credit for decreasing gas prices?
Posted in these groups: 
Government
Office of the President (POTUS)
Government Office of the President (POTUS)
Posted 10 y ago
Responses: 20
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Saudi Arabia. They are increasing production and lowering prices so they can get their market share back that they lost due to other markets being able to produce more (such as the US...through Fracking drilling methods). So they are lower prices/increasing production to drive the competition out of business (such as the US Oil producers....price of gas has to be around $70 a barrel for them to break even and I think currently it is down to $40 to 50 dollars a barrel). Once they do that, you will see them jack the prices/ reduce production back up and there will be much less competition to help stabilize the price.
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SPC Stewart Smith
Could not have said it any better. Thank you for mentioning the US oil producers being unable to compete. This is a true, very scary, fact. The value of the dollar is going to greatly decrease if we cannot sell our oil on the global economy.
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SPC (Join to see)
Well, I was all set to type this up but you beat me to it sir.
Dummy terms: Saudi Arabia is trying to do to American oil companies what Walmart does to local stores. Hemorrhage money until the smaller competition fails then set your own prices in the long run. It is a long term plan.
Dummy terms: Saudi Arabia is trying to do to American oil companies what Walmart does to local stores. Hemorrhage money until the smaller competition fails then set your own prices in the long run. It is a long term plan.
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PO1 (Join to see)
May also have something to do with surge of alternative fuel vehicles and hybrids I'm sure
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