EnglishPaul

I've never understood how a comodity gets traded in a certain currency. Why isn't oil sold in the currency of the producing country?

I do agree with Chode that the price of oil would be unaffected by more oil fields at the moment. And the taxing scheme mentioned sounds like it would have been a good one.

I think the middle east contributes to bigger issues than oil price. I'm sure it does have an effect, but I think it is more used as an excuse by the greedy.

Nuclear power and electric cars are the way forward; and the generated nuclear material could be refined and made into bombs which could be sold to rich arab states at great cost to get some of the lost money back. Since no one ever uses nuclear weapons, there is no real need for them to actually work as who would know, so America could sell dudd nukes thoughout the world.