Posted by LAA on November 04, 2012 at 08:12:52 from (86.51.147.113):
In Reply to: Re: green cars posted by Indiana Ken on November 04, 2012 at 07:53:39:
You may be looking at a chart that was adjusted for inflation or $2.00 may have been the price in California during the ninties but the average for the rest of the USA during the decade of the ninties was roughly $1.25 per gallon. Most large US and international oil companies reduce Drilling when oil is cheap to cut the supply and raise the price or because it is not economic in their regions of operations but they still increase their own reserves through aquisition, as I stated below, they buy oil and properties when its cheap and drill the more economic plays. Many foreign governments have to sell regardless of price to generate revenue.
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