1) Canada is great country, nothing like the middle east dictatorships. Most people are unaware that Canada is #1 oil exporter to USA. Canada and Mexico are not part of OPEC but charge same price. The joke was where’s are NAFTA discount?
2) Venezuela is major oil exporter, but aging infrastructure and nationalization (another word for basic theft) of oil fields, companies has reduced their global output. The current standoff in Venezuela means that oil companies need to wait for reform in that country to think about investing there.
3) Iraq situation is improving, their oil output is increasing. Whatever mistakes were made there, the light crude there is very important for autos worldwide. Oil companies will invest more there, output will go up and prices down.
4) The Gore/Dixie comment was poor attempt to note that dems drive big SUVs too and need oil as well. Repubs also drive hybrids, but because of shame, you wont see dem stickers on SUVs or Rebup sticker on hybrids. Perception is that Volvo drivers are liberal, but Volvos don’t get great mileage.
5) My prediction is that oil prices have peaked for this year, but we need to reduce our demand for long term.
