face it evrytime the news mentions a new death in iraq, white house drama, israel complainting, this administrations failures, and even when the oil companies report higher profits, oil prices increase, America, are we that stupid?
2006-07-26 04:56:14 · 5 answers · asked by cbb 2 in News & Events ➔ Current Events
Yep, we are that stupid. And it herds people onto mass transit, where the fares are also rising. All of the big industries with lobbies on the Hill are making a fortune. And guess what? Now they are saying that the next big terror strike in the US will be a mass transit target. What a convenient reason for more counterstrikes on another country! Anybody else starting to feel herded like sheep?
2006-07-27 04:22:00 · answer #1 · answered by badkitty1969 7 · 0⤊ 0⤋
Real simple. Geopolitical events such as Niger and the Mideast conflict drive up the price via oil speculation. Speculators of Sweet Crude and and the New York Mercantile exchange feed off these worries. And the drive up the barrel price which in turn drives up the pump price at your self service gas station. One more thing stations by thier gas at cheap contract prices which aren't reflected in the pump price.
2006-07-26 05:17:22 · answer #2 · answered by chuck h 5 · 1⤊ 0⤋
Search about PEAK OIL.
We have declining natural resources.
America's plan is to dry out the middle east. Then use more expesnsive Permanian Basin and Gulf of Mexico oil.
HERE IS A PAPER ABOUT IT....
http://hubbert.mines.edu/news/Campbell_02-3.pdf
2006-07-26 05:00:13 · answer #3 · answered by austinguurl 3 · 0⤊ 1⤋
Supply and demand, nothing else.
When you and millions of others stop buying gasoline the price will go down, like it did in 1999.
But we buy it as fast as we can.
2006-07-26 05:00:07 · answer #4 · answered by n0witrytobeamused 6 · 1⤊ 0⤋
Basic economics, supply and demand. They know you'll pay whatever they charge, and they know China will pay it too. Would you charge less than you could get? I wouldn't.
2006-07-26 05:30:55 · answer #5 · answered by jack f 7 · 1⤊ 0⤋