What would happen if we stopped buying oil from the middle east. would the price go down?

would they starve to death not that i care. I mean they only pay $.73 for about agallon of gas over here.What would happen if we stopped buying oil from the middle east. would the price go down?
We don't buy very much oil from the Middle East. The 3 biggest countries that we import from are Canada, Mexico, and Venezuela, and they make up about 75% or so of our imports.





I think we get about 10% from the ME.





So I doubt the price would drop appreciably.What would happen if we stopped buying oil from the middle east. would the price go down?
NO, the price would remain the same because demand and supply would remain the same. the only way to reduce the cost of oil is to reduce the demand by using alternate fuels or cutting consumption. that is not going to happen in the near future, so get used to the high price of gasoline. Do what you can to reduce your own consumption of energy.
NIce in theory, but it won't happen.





We are too dependent on oil. Is everyone in America going to take a bicycle to work? Are windmills and solar farms going to pop up overnight to take the place of oil burning electrical plants? Are manufacturers going to discover some sort of magical product to take the place of oil in manufacturing?





At least in the short term, conservation has to be part of the answer. Other options, such as drilling for new sources and developing new fuels are going to take at least five years.
Yeah, the price would drop, but not to the where we would be paying .73. The rest of the world still needs oil. And they wouldn't starve for a long time. They are already very very rich. Lastly, we would starve from lack of oil. You think we are in a recision now, it would be the downfall of our country.
You are asking the wrong question. The reason oil prices are so high is because of monopoly. And monopolies can only function with the help of government.





To lower oil prices, we need to return to the Free Market. This means abolishing the unconstitutional Department of Energy. Free countries do not have an ';energy policy';. The REAL purpose of the ';energy policy'; is to ensure maximum profits for the big oil companies. Our politicians are being subsidized by big oil, and big oil takes care of them when they retire, or get voted out of office.





The Environmental Movement is financed by the big oil companies. It's purpose is to stop oil exploration and exploitation, thereby stifling competition, and creating an artificial ';shortage';.





The solution is to get government out of the way, and have real competition in energy production. As long as politicians are subsidized by big oil, corrupt courts side with the Environmentalists, and mainstream media continue to provide reasons why we can't drill for oil, we can expect to see prices for oil rise.





Incidentally, many of our politicians, top executives in the big oil companies, executives in major media, and high officials in the judiciary all belong to the same club. It's called the Council on Foreign Relations. Go to their website: www.cfr.org and read their membership list. Maybe you'll see the connection.
The price would drop a bit, but it would hurt us, we need gas to get to work and transport goods. China and India would love us as their gas prices declined, Europe would love us too.
And how would food and other goods be transported to stores and I know most people could not ride a bike or walk to work..nice idea but won't work
No. We get less than 20% of our oil from the Middle East. We should invade Venezuela, they pay $0.14 per gallon.