Except for the fact that Robin Williams never uttered such a plan, and the fact that the 'plan' shows utter ignorance about economics, maybe it might work!
Offering to pay a fixed price for a product only works when there's no one willing to pay more. Right now, the US imports most of its oil from Canada and Mexico, with Saudi Arabia coming in a distant third, representing something on the order of 12% of US oil imports.
The rise in oil prices is driven primarily by demands from China and India. They're willing to pay the going rate. Offering to pay $10 will only mean that there'll be no one willing to sell it at that price. Sort of scotches the plan.
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Except for the fact that Robin Williams never uttered such a plan, and the fact that the 'plan' shows utter ignorance about economics, maybe it might work!
Offering to pay a fixed price for a product only works when there's no one willing to pay more. Right now, the US imports most of its oil from Canada and Mexico, with Saudi Arabia coming in a distant third, representing something on the order of 12% of US oil imports.
The rise in oil prices is driven primarily by demands from China and India. They're willing to pay the going rate. Offering to pay $10 will only mean that there'll be no one willing to sell it at that price. Sort of scotches the plan.
http://www.strategypage.com/htmw/htwin/articles/20070917.aspx
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