Quote by Ron Wyden

Like any business, the oil industry runs on the basic premise of supply and demand. The more supply - the lower the price. The higher the demand - the higher price. In other words, the more people who can buy oil, the higher the price of oil.

Like any business, the oil industry runs on the basic premis

Summary

This quote highlights the fundamental principle that governs the oil industry - supply and demand. It states that the price of oil is directly influenced by these factors. When there is a surplus of oil (higher supply), the price tends to decrease. Conversely, when there is increased demand for oil, the price tends to rise. Ultimately, the quote emphasizes the role of consumer purchasing power in determining the price of oil.

Topics

Business

By Ron Wyden

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