btw, about Reagan influencing the price of oil in 1985, you can google it - there is tons of info on it...

Svetlana, that's not my point... you're describing a Ronald Reagan that didn't exist...

Nice try:-D
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Nice try? Do you remember things differently?

Sveta, you can't sell this to me no matter how many references you can find.
I have seen how the entire world government tried to bring the price of oil up and failed and then they tried to bring it down and failed until the market decides to move it.

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Человек, который почувствовал ветер перемен, должен построить не щит от ветра, а ветряную мельницу

The 1980s oil glut was a surplus of crude oil caused by falling demand following the 1973 and 1979 energy crises. The world price of oil, which had peaked in 1980 at over US$35 per barrel, fell in 1986 from $27 to below $10.[2][3] The glut began in the early 1980s as a result of slowed economic activity in industrial countries (due to the 1973 and 1979 energy crises) and the energy conservation spurred by high fuel prices[4].

Are you saying if we increase supply it would change the price?
remember few years back, Bush had asked the Saudis (and OAPEC) to increase production, but they didn't...if they had, would have it made a difference?
Back to Reagan's times, the Saudis were very close to the United States because of their existence of the Soviet Union...they even helped him get the money to fight the Soviets in Afganistan...why wouldn't they help him to increase the supply and lower the price?..........

we, OPEC and Russia increased supply 11 times in 2008 and the price still went parabolic.. despite the sinking economy... and hit $147.
We don't control the oil prices, but oil prices control us.
we can address the issue of oil and gas dictating our policies by switching to renewables.
I hope this administration is fully committed to encouraging renewable energy investments and grid updates, as they promised in their campaign.

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Человек, который почувствовал ветер перемен, должен построить не щит от ветра, а ветряную мельницу

Friedman wrote an "acceptance speech":-) for Obama, and it sounds really good:
***********.nytimes.com/2009/10/11/opinion/11friedman.html?th&emc=th

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Happy New Year to all! Virtual hugs!

don't want to argue much anymore...but 1. the things were somewhat different in the 80s than now 2. the OAPEC has been controlling price of oil somewhat through controlling the output for a while (I am not saying it has unlimited power on the price, but can sometimes affect it somewhat...it may not have had any effect in 2008 1.because the price has alrady peaked 2. the economy was already declining)...Saudis pump 25% of the World Oil...
I am not saying that asking Saudis to increase production in the 80s was the only effect ot bring the USSR down, but it was one of the many strategies...
btw, if Obama, the Nobel Peace Prize Nominee, would employ the same strategy as Reagan, attack the enemy economically, he can be successufl, but for that you have to have a vision and recognizing who are your enemies and how dangerous they are, instead of treating everyone the same...imo...

Question - if we increase the supply (like they did in 2008), and the price still continues going up to a certain point, can it be just be it takes some time for the market to correct itself (supply and demand)?...in addition to other factors like the state of the economy, etc...