2006-08-01 15:26:03 · 6 answers · asked by kam 4 in Business & Finance ➔ Other - Business & Finance
Oil prices are going up because of the engery demands of China, but George W. Bush and his oil buddies from Saudi(the Bin Larden family) have created a war to force the oil price to the levels they are today.
There are alternatives to getting oil products(gas,etc) from oil, and that is extracing it from coal. Germany used this process during world war two, South Africa used a better process during the oil embargo and there are now even better processes available.
Combine these processes with other non poluting technolgies, solar, hydro and wind to produce engery and the demand for oil would more than halve, putting all of George W's friends out of the business of ripping off the average person with high fuel prices.
2006-08-01 15:41:11 · answer #1 · answered by elvenlike13 3 · 0⤊ 0⤋
Oil price is going up because speculators and stockpilers (including the U.S. government and the Japanese government) keep buying it up, and producers are slow to react (which is understandable, given the amount of time and money it takes to develop oilfields and, more importantly, to build refineries).
Who is benefitting? Every oil exporter on the planet. Countries that export more than 1 billion barrels a day are:
Saudi Arabia
Russia
Norway
Iran
Venezuela
United Arab Emirates
Kuwait
Nigeria
Mexico
Algeria
Iraq
Libya
Kazakhstan
Qatar
2006-08-01 15:44:47 · answer #2 · answered by NC 7 · 0⤊ 0⤋
The prices are supposedly going up because it is getting more difficult to transport oil here with the war in Iraq, and now Lebanon.
However, I find it hard to believe that line when MobileExxon posted the largest profits ever last quarter. Obviously, someone is overestimating the increase in costs due to the war.
2006-08-01 15:31:11 · answer #3 · answered by Christopher B 6 · 0⤊ 0⤋
the oil executives are benefiting from the soaring gas prices, and the only thing i can think why the gas prices are going up is because of the fighting over in the middle east
2006-08-01 15:30:46 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The oil companies are all posting record profits. They are raping us because we allow them. Even if people buy more fuel efficient cars for a while they will forget when the prices drop to $2.50 a gallon, and they won't even remember how much it hurts.
2006-08-01 15:35:00 · answer #5 · answered by Nelson_DeVon 7 · 0⤊ 0⤋
the arabs and companies want more money
2006-08-01 15:30:16 · answer #6 · answered by jp 6 · 0⤊ 0⤋