If it's the oil companies can we dispute the charges on our credit cards and delay payments to them (100's of millions of $$$$$ if everyone gets involved) which will cause a gint size headache for them. If its the Arabs what, if anything, can we do?
2006-07-24 15:00:13 · 14 answers · asked by Janosamagyar 1 in Business & Finance ➔ Corporations
Actually... it's simple...
1. Booming increase in demand from China and India for oil.
2. OPEC trying to extend the life of oil... (it's running out, it's their main source of income... when it's out there will be nothing left..)
3. Investors who panic and thus sky-rocket the oil prices.
4 Government for not reducing taxes on gas at the pump.
5. Oil companies for just sitting there taking billions and billions in extra cash due to high gas prices at the pump. They say it will help them when times are rough in the future.... Funny... oil is not renewable... they just want the biggest payout when they close done their business.
No, you as an individual can not do anything.
You can Save some money by choosing a more fuel efficient mode of transportation or ride a bike... but the price of airlines and import will continue to rise until governments make use of bio fuels... which are there, which work... but then again, that's a whole different story...
Sleep tight...
2006-07-24 15:07:52 · answer #1 · answered by UTNeflyte 2 · 0⤊ 0⤋
>>Who is responsible for high gas prices, oil companies or the Arabs?
Neither. It is the buyer. The buyer sets the price. If the price is too high, don't buy it, and it will come down (until the cost of production is the limiting factor). Prices are set by supply and demand (even in a rigged economy you can't completely transcend supply and demand--ask the former soviets). Supplies are ultimately fixed; demand is the only variable left.
The "Arabs" (the House of Saud) keep the price low and have essentially broken the OPEC cartel. Contrary to the name "Arab Oil Embargo", they are in fact the ones who broke it, which is why two members of the House of Saud were threatened with assassination by Carlos the Jackal (a counter-bribe saved their lives) when he captured them in Vienna. It is the Nigerians, Indonesians, Venezuelans, Iranians (who are not "Arabs"), Russians, etc, who would like the prices higher.
>>what, if anything, can we do
I suggest you cut your own personal reliance on petroleum, drastically. We have probably hit peak productive capacity, meaning that the Saudis are no longer able to hold the price steady EVEN IF THEY WANTED TO.
Move closer to work. Make sure there's a bakery within walking distance. I am not kidding.
2006-07-24 15:14:28 · answer #2 · answered by Atash 2 · 0⤊ 0⤋
You can't do anything about the prices of gasoline, you can save money on gas if you fill it up on a daily basis. I have tried this and tried it before when it was half full and I must say I spent more when I filled it when it was half full than when I filled it every day. The gas goes up about every two days so its best to keep it on full at all times anyways. You can always ride a bike to work
2006-07-24 15:04:34 · answer #3 · answered by naturally_loveable_43 1 · 0⤊ 0⤋
honestly...your bank card manufacturer can pay the gasoline station/oil manufacturer instantly and takes over the gathering threat. so in essence..you are doing not anything however screwing visa and credit card....excellent check out tho. Oh...and when you desire on the spot remedy from prime gasoline charges...simply inform your state executive to briefly droop the gasoline tax of wherever among $zero.50-$a million.50, relying at the state. The oil firms don't have any say in gasoline charges...they simply produce the oil and refine it. The cost displays geopolitical turmoil.
2016-08-28 18:32:55 · answer #4 · answered by Anonymous · 0⤊ 0⤋
while it is no secret that the price of barrels are increasing ,the blame is mostly the government, because there is at least 96 cent to 1 dollar tax on a gallon. if it were not for the taxes on our gas, gas would be under 2 dollars a gallon. next time you are at the pump, read the fine print that is written on the gas pump.
2006-07-24 15:06:31 · answer #5 · answered by Pussycat 4 · 0⤊ 0⤋
George Bush.
2006-07-24 15:03:13 · answer #6 · answered by tiger_skratch 4 · 0⤊ 0⤋
Sue Wall Street. It's market speculators. Do you really think it's evil oil companies who make gasoline prices leap by $2 when Iran rattles its saber?
2006-07-24 15:03:49 · answer #7 · answered by Maureen F 3 · 0⤊ 0⤋
Oil is traded on the commodities market. the price is controlled by supply and demand based on the interpretations of world events by individual traders. it is traded in the same way as soybeans, orange Juice Concentrate, pork bellies and currency.
2006-07-24 15:03:12 · answer #8 · answered by nathanael_beal 4 · 0⤊ 0⤋
Easy Answer STOP BUYING IT get a bike , take a awalk, stay home ply with you kids STOP BUYING IT for a year the price will come down to 45 cents
2006-07-24 15:09:01 · answer #9 · answered by stillhappy89 4 · 0⤊ 0⤋
Turn Iraq and the rest into a great big parking lot.
2006-07-24 15:03:35 · answer #10 · answered by miatalise12560 6 · 0⤊ 0⤋