Why does the world not understand that oil prices are driven by GLOBAL demand, not just US demand?

Question

Specifically demand in China and India, among other nations, are the cause of high oil prices. Yet it's all driven by politics, who blame only the US. Am I confused, or is the news defused?

Answer 1

I agree with you why blame only US. Everyone, Every country are very much like vampires when it comes up to oil. True the prices are driven by global demand but US demands it more. China and India are requesting a bigger slice of the pie latelly with their fast developing economies. And european countries want more. So US has a very high pressure to keep their suppliers on their side. To do so they have to pay those suppliers more and support a few non democratic regimes here and there.

Answer 2

it's because it's not the GLOBE that has attacked Iraq but U.S...
(the future uncertainty the war in Iraq has created about the future supply of oil is a big part of the reason why oil prices have been shot into the sky)

btw, the word "demand" has economic connotations and you are right that there are other countries than U.S. in this world that need/demand oil for their economic growth. but judging by action, it's certainly U.S. that "wants" oil more than anyone else does.

also notice that the situation is more than the sum of its parts. U.S. and China are "demanding" more oil than the sum of the oil each would have demanded if the other country did not exist or were not considered a threat to the other's growth.

Answer 3

Because the oil price is NOT driven by demand. It is driven by a complicated interplay between refinery capacity and speculation.

Answer 4

The media portray itr one way for the undereducated and easily brainwashed Americans to believe it. Bush is responsible for higher gas prices, not all the new cars and factories that did not exist in China previously.

Answer 5

I understand!