Please voice up your opinion.The bet answered can reward 10 point.
2006-07-17 20:23:31 · 11 answers · asked by johnlee871231 4 in News & Events ➔ Other - News & Events
1. We're running out of it and the demand grows (China and India).
2. Crisis in the Middle East (Iraq, Iran, Lebanon)
Don't worry, it's still very cheap in the U. S. A. Here in Europe it costs the double.
2006-07-17 20:26:33 · answer #1 · answered by Anonymous · 1⤊ 1⤋
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2006-07-18 03:51:10 · answer #2 · answered by gvaporcarb 6 · 0⤊ 0⤋
Because people insist on driving huge vehicles, and wasting gas by taking that vehicle to the corner store. Supply and demand. Opec countries have cut back the supply but the demand still continues to go up in the states. I don't knowwhat you are whining about Gas costs more here in Calgary than anywhere in the US, and we have oil rigs right in the middle of the city.
2006-07-18 03:28:35 · answer #3 · answered by Anonymous · 0⤊ 0⤋
The price of crude oil is set by movement in international petroleum exchanges.
Any instability in the Middle East raises concerns among suppliers and traders in regards to availability, now and in the future - thus, speculators who assume that the current supply is in danger of dropping off jack the price of oil, banking that they can sell it off at a future date for a higher price then they are buying it in the present (google "Commodity/Futures trading").
If you've been investing in oil futures, you've likely more than doubled your investment.
2006-07-18 03:32:59 · answer #4 · answered by rsantos19 3 · 0⤊ 0⤋
with or without wars we cannot prevent the prices hike.because all oil producing countries are all propit hungry grabbing scum.you have to see what is going on in sydney australia.the petrol prices is too much.many people are already being procecuted for not paying and just driving off after filling up at the petrol bowser.war is another excuses so they jack up the prices.
2006-07-18 03:34:47 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The US government might be getting the petroleum at high rates and might have to spend a lot in importing the petroleum...
2006-07-18 03:27:46 · answer #6 · answered by Gurpreet k... Da Lv GuRu 2 · 0⤊ 0⤋
It's going to keep going up from here on out whether there is war, natural disasters or anything else. It's going up because we are reaching Peak Oil. Read this:
http://www.lifeaftertheoilcrash.net/
2006-07-18 03:27:31 · answer #7 · answered by jasenlee 3 · 0⤊ 0⤋
Actually, the price here in the states is quite low, thanks to our politicians being so "friendly" with the oil industry, in europe and most developed countries gas is around $5 a gallon.
2006-07-18 03:29:51 · answer #8 · answered by Sum_Guy 3 · 0⤊ 0⤋
the price has gone up to finance the wars in the middle east
2006-07-18 03:28:13 · answer #9 · answered by robppc20022002 2 · 0⤊ 0⤋
as long as they create problems in middle east, it will continue to go upward
2006-07-18 03:25:27 · answer #10 · answered by Anonymous · 0⤊ 0⤋