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Originally Posted by dalakhani
What you say is true with an asterisk. What you should say is that our government has no DIRECT control over oil prices. Just like our government has no DIRECT control over long term interest rates. If you are implying that our government has NO influence on worldwide crude prices, that would be incorrect.
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We have much more control over interest rates than oil prices. The Fed can raise or lower the federal funds rate as they please. That's pretty significant.
There is pretty much nothing we can do to affect oil prices. I guess we could call some of the OPEC members and beg them to lower their prices. This has never worked in the past.