2006-10-28 09:32:32 · 8 answers · asked by Randall S 1 in Social Science ➔ Other - Social Science
Isn't it the oiligopoly that controls the oil futures market. By holding on to thier oil reserves they can cause the price to increase, dumping the reserves onto the market causes a decrese in oil prices, simply supply and demand. However they ave the power ot influence socioeconomic's world-wide. I agree OPEC has alot to do with pricing of oil but I belive it is the power elite that control the reserves and thus oil futures that utimately controling the price.
2006-10-28 11:35:19 · update #1
OPEC decide the oil price for international market.But regional and national price decide by regional oil company,stock market,demand,sometime goverment.
2006-10-28 11:20:28 · answer #1 · answered by It's Me! 5 · 0⤊ 0⤋
The consumer.
If just only the US and Candanian consumer all agreed not to purchase any oil or oil products from the middle east for just one day per week, watch what happens to the price. Imagine if we didn't purchase any for one week!
Bet there would be a lot of camels out there worker harder.
2006-10-29 02:57:00 · answer #2 · answered by Ms. Balls 3 · 0⤊ 0⤋
OPEC and the oil companies like Chevron, Shell, Unocal, etc.,
2006-10-28 16:41:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Primarily OPEC.
2006-10-28 16:35:31 · answer #4 · answered by sdh0407 5 · 0⤊ 0⤋
Supply and demand.
2006-10-28 17:01:09 · answer #5 · answered by Chris J 6 · 1⤊ 0⤋
G. W. Bush and the GOP
2006-10-28 16:36:33 · answer #6 · answered by steve c 4 · 1⤊ 0⤋
I think the film "Syrianna" says it all....
2006-10-28 16:36:49 · answer #7 · answered by skeme66 2 · 0⤊ 0⤋
monopoly.
2006-10-28 18:50:39 · answer #8 · answered by prince47 7 · 1⤊ 0⤋