Why should the oil price drop? Can you explain this please, what makes you sure, that a temporary influx of a little bit of new oil, will have any noticeable effect on the oil price?
The cause, by which (e.g.) oil prices would decrease now, even though it would be a while before the oil actually was available, is called the "futures" market. I have no expertise in the matter, but here is my understanding obtained from observations of public discussions.
Basically, people buy future oil - they purchase it, now, but will take delivery, later. This is particularly useful for large consumers, like commercial airlines; they know that they will need a lot of jet fuel, next year, but if they expect the price to be higher, next year, then better to buy it now, and let it be delivered, next year.
The price of a "futures" contract, depends upon what is predicted to be the future situation. So, if there is reason to believe that there will be more oil available, next year (or in 5years, or whatever is the specification of the contract), then the expectation is that the price will be lower, then, than if there were not likely to be more oil available, then. As a result, the current purchase price of the "futures" contract, is lower, in accordance with an expectation of how it will represent the future circumstances.
It's all a bit of a gamble, of course - and a complicated calculation, since future demand must be considered, as well as future supply - but there are people whose business it is to make such predictions, and suffice to say that the "futures" market is real and significant. Furthermore, it is part of the overall market structure for the product (e.g. - oil). And "futures" markets are therefore useful, as part of the general economy, as being a kind of buffer system, whereby people get a sense of what the market will be doing, over time, and can prepare for it.
The point here, really, is that the price of "futures" contracts, affects the price of the item, now. In fact, "futures" contracts are even bought and sold (like mortgages and other loan contracts) - as if such a contract is a commercial item, in itself - by "speculators" who expect to be able to make a profit by the difference between what is predicted and what actually happens, and by the change of the price of such a contract, over time - kind of like a stock market system. And if oil "futures" contracts are decreasing in price, due to a prediction of greater future supply, then people regard this as an indication (a "market signal") that a lower current oil price is appropriate, and current prices decrease, too. This exemplifies how the "futures" market acts as a buffer for the contemporaneous market, and it also explains how current prices are dependent upon "futures" prices, and are dependent upon future circumstances.
(For a perhaps more amusing explanation of the "futures" market, you could watch the movie "Trading Places," with Dan Ackroyd, Eddie Murphy and a bunch of other great people.)
Next thing you need to do is find ways to reduce the phenomenon that some for people their income is completely disproportional to the amount of work they do for society. However, it may be better to do this in other ways than by simply assuming that extraordinarily rich people are "cheating", and therefore must pay more taxes.
I think that this represents a faulty perspective, since the intended beneficiary of one's work is not "society," but rather, one's employer. And the value, to an employer, of one's work, is not represented exclusively by what the work is, but also, what would be the alternative.
Some professional athletes and movie actors, for example, earn enormous amounts of money, while doing things that arguably are not cosmically beneficial. However, what would be the alternative to that person's doing the work? Who else has comparable skill (as arguably insignificant as an athlete's specialized skill may be)? Who else could attract such a large audience to see the movie (as unimportant as may arguably be the work of portraying a character in a dramatic production)?
Who else can play such music on that instrument, or compose such a song? Who else could satisfactorily, even beneficially and profitably, manage this large, complex business enterprise - upon which, the livelihood of thousands of other persons, may depend?
Some persons have special talents, which make them peculiarly valuable to other persons - notwithstanding what may be their arguable value to yet other persons or "society," generally. This peculiarly great value is exchangeable for great money, and since you are free to spend your money for what is valuable to you, why begrudge others' doing likewise?
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@Urwumpe -
It occurs to me that perhaps I did not really answer the question that you intended - why a comparatively small amount of additionally supplied oil (perhaps 3% of world supply), might significantly affect prices (current, and future).
It's a good question, of course; one might expect an additional 3% oil supply to lower prices by only 3%, or something like that. But there are further considerations, including:
-whether the added oil would, indeed, be placed into the world supply, or reserved for domestic use
-how accurate is the "3% of world supply" proposition; "proven reserves" continue to be enormously underestimated, while much of the USA's regions remain "off-limits" to exploration, and technological advancements for obtaining oil from various unusual sources, continue
-how well current prices represent an accurate market price; the oil industry is hugely regulated, including by OPEC decisions that constitute an arguably "price-fixing" and monopolistic sort of effect, and by governmental regulations that control supply, increase prices by taxation and perhaps decrease prices by subsidies, in addition to manipulating demand by "encouragements" to conserve, policies to increase use-efficiency and perhaps other policies with significant or subtle, direct or indirect, effects. The effect of changes in the regulation structure, are perhaps unpredictable as well as significant, in a market that is already notably speculative.
