Do to the fact that our president owns half the oil wells in Texas why is crude oil priced so high?

my thoughts exactly. i heard him say today that he is opening up the wildlife for more oil drilling. i thought yeah you would since he would make a profit off it because of the family oil businessDo to the fact that our president owns half the oil wells in Texas why is crude oil priced so high?
Can you show us some facts to back up that allegation?


Crude Oil is a Commodity. That means crude's price is set almost solely by the Market, not so much by individual companies, nor especially well owners, for pete's sake. Besides, 2/3 of our oil comes from Imports, so even if Bush did own that many wells, and GAVE the oil away, you'd never see the price at the consumer end drop a single penny.Do to the fact that our president owns half the oil wells in Texas why is crude oil priced so high?
he dose not own half the wells in texas. I do
He doesn't own ';half the oil wells in Texas.'; And even if he did, the world's supply of oil doesn't really come from Texas. Even the US supply of oil comes from all over the world, mostly the Middle East.





Crude oil is expensive because there's a high demand for a limited resource.
I鈥檇 have to see those statistics or where you got your information; I鈥檓 pretty sure he doesn鈥檛 own half the oil wells in Texas, but I do know for a fact his closest friends do and we import 0% of our natural gas, but are still getting stiffed on our energy bills. Yep by the time Bush leaves office, all of his friends are going to be very happy with the job he鈥檚 done.
assuming everything you say is true.





you just answered your own question.
Oil has everything to do with W.





He invaded Iraq for the oil. He wants to invade Iran cuz of the oil. He will do nothing but superficial actions to make it look like he wants the price of gas to go down.





The reality is, he is from an oil family. If the price of oil goes up, he benifits.





What do you think??
One has very little to do with the other.