Forum Post: "The oil is ours"
Posted 12 years ago on Nov. 7, 2011, 9:27 a.m. EST by freeMan
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Read, “ The oil is ours”, you will know how Wall Street greed affects our life. http://www.mb19125.blogspot.com
While i'm not necessarily opposed to the nationalization of oil companies, you miss some realities. Only about 10% of the worlds oil supply is in the hands of so called multi-national, or private oil companies such as US majors, or BP. The rest is controlled by national companies like Aramco (Saudi) or Petrobras (Brazil). The US majors do not control price. While speculation is not helping, the real cost of extracting the average barrel of oil is rising. Have you heard of the concept of peak oil?