If oil production goes up 200(cant remember if thousand or million) how is it the price of gas remains?

This article is saying that july they plan to make more into production however they doubt prices change how is that so when they are almost doubling the outputIf oil production goes up 200(cant remember if thousand or million) how is it the price of gas remains?
If they can keep the price from increasing that would be great. The way it is working now we will be paying 8 bucks a gallon within ten years. I'll take 4 dollars/gal over 8 any day.





Also anyone who says drilling for more won't reduce the price, their right. but what it will do is keep the price from going up at the rate it has been.If oil production goes up 200(cant remember if thousand or million) how is it the price of gas remains?
The pricing has almost nothing to do with supply.


At this moment there are oil tankers sitting off the coasts of Kuwait, Saudi, Iran, etc full of oil and without any place to deliver it to.


You do not use tankers for storing oil, you use them for moving it to where the demand is.


It is also a serious question about how much the Saudis actually can increase production. Consider that Kuwait recently dropped their estimate of recoverable reserves by 25% and a few other facts about the geology of the region and they might not have extra oil to pump.





Now consider the effect of American threats to blockade and then invade Iran, one of the worlds major oil producers.





Sure lets threaten to destroy 30% of the world's oil supply and then blame the economic shocks on Saudi Arabia simply not pumping enough oil.





Please think for yourselves. I should not need to show you that 1 and 1 do not add up to 3.
I just watched CNN’s international Channel(3pm EST), breaking the news that oil price spikes again. But the anchor and the reporter assert it is China’s diesel demand contributed to the hike.





Waited a sec ! It is already THIRD time I am hearing CNN’s assertion of China’s diesel demand. The first time was about two weeks ago. What’s going on?





Then, Israel’s-Iran-attack-drill news flashing back-------Which Was Just Happened This Morning ! That “unmistakable signal” is surely an act to have a consequence of oil supply disruption ! Why is it not reported as a oil spiking cause ? !





Time to scapegoat China again before a major offensive ? To verify, I went to CNN web site , there it is :





China hikes fuel prices http://money.cnn.com/2008/06/20/news/int…





China to raise energy prices


http://money.cnn.com/2008/06/19/news/int…





But nowhere saying that Israel’s-Iran-attack-drill will unstablize the oil supply region, causing the oil price up.





For Israelis Iran Strike Drill see


http://www.jpost.com/servlet/Satellite?c…
Ok, at 11:00 Pm eastern standerd time on CNN there is a special investigation on this, they say that by 2009 the world will come to a hault, but you know how CNN loves to scare the public but still it could be true. A large meeting was held in Saudi Arabia over this matter, and the Saudis have way overshot their current production in the graphs they were giving us 5 years ago, what a suprise, the graph has stayed the same since 1990, so only a dum@$$ wouldn't have guessed they were hiding the real facts...watch it and then you'll know what is most likely happening now in the world...how about $8 a gallon gas, how about no gas at all!!! 0_o
Even if production goes up by two, demand will be growing faster (in emerging markets like Asia). Also only Saudi Arabia is doing this.
OPEC