Why are oil prices so high?

(9:36) Why are oil prices so high? Republicans blame Obama and call for more domestic drilling to drive down the price. But is this how it really works? With some facts and figures to hand, The Young Turks host Cenk Uygur explains how money flows through the oil industry. Yet another reason why ordinary people's blood should boil.

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glortman (472 days ago)

Latest comment: Case in point: Canada has enormous oil output, but our prices are very high. We export most of our oil, a lot of it to the US. What amuses/terrifies/sickens me is how through reference to various pipeline schemes the Americans are calling Canadian oil "domestic". Sure, I understand that Canada is America's hat, but we like to imagine we are a sovereign hat.

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Guest: (476 days ago)

Just a hunch: Future US president.

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Guest: placid flamingo (475 days ago)

Sadly not...born in Istanbul :0(

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Guest: Kerry (476 days ago)

This guy should be banned from speaking on economic subjects,he has no clue what so ever.The reason oil,and most other stuff, is going up is because your $ value is going down! In large part due to the massive money printing by the Obama administration.AS for who Goldman etc. helped buy in to office look no further than Obama.No it's not just the Republicans...

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Guest: rossglory (474 days ago)

but oil is bought and sold in dollars so how does that work?

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TheBob (476 days ago)

Yep. Put 3 economists together and you get 4 different opinions

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Guest: instigator (474 days ago)

Nice job BoreMe...keep posting the liberal media socialist hacks attempting to save the sinking ship that is P-BO.

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WalterEgo (473 days ago)

BoreMe is obviously very liberal, which gives you plenty of opportunity to argue against. So don't attack BoreMe, argue your points and see if you can change some minds.

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cengland0 (473 days ago)

Yes, there is more domestic drilling now that Obama is in office. Does that mean Obama had anything to do with that? Nope. It's due to the drilling licenses that were handed out during the Bush administration.

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