It’s a simple calculation though and not talked about enough. USA went to war in Iraq 25 years ago thanks to the oilmen in charge at that time. For all the political bluster about Iran and gas prices, $100 oil makes them hugely more profit than $60 oil. Of course producers and shareholders of American oil companies want that extra free money. They’re not pumping oil out of the ground and keeping it at a low price just to be benevolent to the American consumer.
alt Hacker News
It’s a simple calculation though and not talked about enough. USA went to war in Iraq 25 years ago thanks to the oilmen in charge at that time. For all the political bluster about Iran and gas prices, $100 oil makes them hugely more profit than $60 oil. Of course producers and shareholders of American oil companies want that extra free money. They’re not pumping oil out of the ground and keeping it at a low price just to be benevolent to the American consumer.