is so damn high and it keeps going higher, who is bush fooling by jacking everybody, I got a reliable source and gas is gonna hit 6-7 dollars so get ready to take it in the ***.
2006-08-05 04:58:06 · 13 answers · asked by samziggymeyer 2 in Cars & Transportation ➔ Car Makes ➔ Chevrolet
Because Bush has interests in the oil industry
2006-08-05 05:02:29 · answer #1 · answered by keepergary 3 · 5⤊ 1⤋
This is a question I answered before.. well somehow similar so I will edit it a bit.....
The situation in the middle east and all the fighting that is going on now may result in an even higher prices and threaten the economy... that today's oil prices may soon be cheap compared to what they are going to reach... It may go up to $100/bbl or more!
The problems of Israel in the middle east immediately sent crude to $78 a barrel......
The economic effect would be threatening. It goes like this (approx.) every $10 a barrel, gasoline prices rise by about 25 cents a gallon.
I also agree with answerer 1 above... Its supply and demand... Gap between demand and productive capacity is so small!!! Oil demand is inelastic, as fuel for consumers is essential. Also you must account for the mistmach between needed and desirable oil and what they want or have.
hence : heavy vs light crude oil!!
The scarcity and shortage of light crude is putting high pressure on oil prices.
Also you should account for the margin! To keep the margin, when prices of crude oil goes up, gas prices goes up too! There might be a lag in the period.... but it happens!!
I hope I helped!
2006-08-05 12:12:48 · answer #2 · answered by SAM 5 · 0⤊ 0⤋
Everyone is missing one crucial point. The war in Iraq is consuming large amounts of fuel. We are supporting a combined force of U.S. and Iraqi troops numbering several hundred thousand. The armored equipment and tanks they are using measure fuel consumption in gallons per mile not miles per gallon. Unlike Vietnam where soldiers trudged though the jungle, Iraq is a mechanized war. This large demand for fuel to wage this war is creating shortages in the supply here, which is driving prices up. During WWII, the last long drawn out mechanized war, fuel had to be rationed in this country. When energy shortages occur during warfare, the price skyrockets or rationing is adopted. This current fuel crisis is not the fault of the big bad oil companies. It's the war.
2006-08-05 14:20:12 · answer #3 · answered by Overt Operative 6 · 0⤊ 0⤋
If you think this is all supply and demand, you're not thinking this through...
US deregulates the oil industry and allows HUGE mergers to happen...
The few remaining GIANT corporations now control the market...
When the market price goes up, they make out like bandits, because they are the ones making the prices go up.
Why don't we hear about this on the 'liberal' news? Because the same thing happened in the communications industry. A few large companies own most of the markets. They decide what's news, and they're in with their buddies..
Who are their buddies? The ones in washington who allowed them to merge in the first place.
Why doesn't Congress look into it? Hmmm, republican oil man president, republican house, republican senate...
Wake up people!
2006-08-05 12:58:50 · answer #4 · answered by InjunRAIV 6 · 0⤊ 0⤋
It's called supply and demand and they have something we need. There are other companies doing the same thing, people did that to the poor people hit by the hurricanes they bought supplies like generators and took them down there and sold them for double what they paid for them. Is it right NO, but that is how it is.
People need to stop blaming Bush for everything that has been happening since the beginning of time.
2006-08-05 12:04:45 · answer #5 · answered by T S 3 · 0⤊ 0⤋
its a sham, canada is the Top U.S. Crude Oil Supplier, and every one is saying its because of the middle east., maybe, but they know what they are doing...fleecing there pockets like crazy.their formula:our demand + their supply = jack them, they have little or no option. And have you notice how quickly the price of gas doubled. plus they talk about different options but how quickly are they to really support different fuel options. they are making over 1300 dollars PROFIT per second...its crazy!!!
2006-08-05 12:16:30 · answer #6 · answered by jimmy a 3 · 0⤊ 0⤋
There's only one recording record profits, and that's why they are under investigation. EXXON. I also think that since we own 1 oil producing country over there, and will probably own a couple more if they don't quit waving their d*cks around, the prices should go DOWN!!
2006-08-05 12:02:22 · answer #7 · answered by flashpro 5 · 0⤊ 0⤋
Okay this is a supply and demand issue but since the demand is so high....they can make it whatever price they want and people will be forced to pay it since we are so dependant on oil...if u're that upset about it find something cheap that stuff can run on...like water or air...
2006-08-05 12:02:54 · answer #8 · answered by Love always, Kortnei 6 · 0⤊ 0⤋
You and all your buddies drive half what you usually do, and I do the same (already do...but I could probably cut it more), then prices fall!
What will you do in 20 years when gas is $25 per gallon? Yep, coming soon!
2006-08-05 12:02:58 · answer #9 · answered by powhound 7 · 0⤊ 0⤋
well... aren't some gas companies also into drilling? So that just means that they're raking in the money because they "have" to sell their gas for more money becasue it somehow is harder to harvest and refine crude oil(?). Thats the best i got...
2006-08-05 12:07:09 · answer #10 · answered by Rvardell 3 · 0⤊ 0⤋