Senator Schumer insists that "If Saudi Arabia were to increase its production by 1 million barrels per day that translates to a reduction of 20 percent to 25 percent in the world price of crude oil . . . “ Schumer is so angry that he is blocking selling military supplies to Saudi Arabia until they increase production.

We could also cut off the food supply or have a bushel for a barrel exchange.

It appears that ignorance is bliss.

You can't force people to sell their goods. Saudis don't have a monopoly on the market. Foreign production will increase and the Saudis will have shot themselves in the foot trying to make some extra profit. Domestic drilling is one such thing that could be done, if the environmentalists weren't so intent on blocking it.

And blocking their food supply would do no good.

__________________
.

"It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.

--Murray Rothbard

Quote:

Originally Posted by Skinny. A liberal is just a libertarian who hasn't studied economics.

actually domestic companies are waiting for such opportunity to own saudi's market. that makes everything worst for US, nothing changes in arabia.

__________________
Why does my heart cry? Feelings I can't fight...