Saturday, January 30, 2016

The Price of Oil is Bigger than just Field Workers

Please take a moment and read this post by an oil field family.

Something else people don't realize is that the people who work in the oil fields are not the ones who set the price of oil, and ultimately the price of gasoline at the pumps. It is much much bigger than the people who work in the oil field. It has to do with the world economy and how it is affected by wars, greed, and ego. The reason we are seeing such a low price for oil right now is that foreign producers are flooding the market with their easily produced crude (most of their wells are free-flowing) trying to hurt American based companies who require a bit more capital to get the oil out of the ground.

Another thing people don't realize is that oil is not just used to make gasoline. It is also used to make engine and gear oil, it is also used to make plastic products. So it is highly likely that you are holding something made from oil in your hand right now.

So to fault someone who works in the oil fields because of how much are, or are not, paying at the pump is extremely ignorant and naive.

Do a little more research before criticizing someone you don't know.

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