gas prices?????????????

Question

why are gas prices so high? will saudi arabia ever run out of oil or something? what do you think gas prices(or fuel) will be like in the next 20 years? is bush limiteing it? ANYTHING????

Answer 1

There is a lot of ignorance posted here so far. Here is the truth. The Oil price is set by supply and demand. The markets decide what the price is. Demand is pushing on the supply so the price is going up. excess production capacity is getting smaller. Saudi arabia most definitely will run out of oil. Much sooner than they claim. They have no where near as much oil as they claim to. Read Twilight in the desert. All the middle east reserve numbers are fudged. The world will enter a production decline very soon. Much like the US experienced a decline in 1971 that continues to this day. Also the way Mexico has recently experienced a decline. Only idiots look to the short term. Oil is a finite resource that is running out. Oil demand is increasing by 2% a year on average. When the world hits the halfway point and starts the hubberts peak decline. (lifeaftertheoilcrash.net) prices will skyrocket big time. The world economy will enter a depression if its lucky. And yes, Bush is making the situation much worse by not getting the US out of the rampant oil consumption. He has the power to make changes and make major announcements. but he isn't. He and Cheney know what is going on. They are making the most money possible out of the situation for their elite friends. Its a tragedy history will look very poorly on. As for me, I've borrowed as much as I can and bought USO on margin on the american stock exchange. Good luck everyone, its going to be a wild ride.

Answer 2

The President has nothing to do with it honey, so forget about that. Oil is traded on the future's market - kind like stock - so the price per barrel changes hourly. No one person sets the price. It's all supply & demand.

Things that affect the cost are global conflicts (Iraq, Iran, N. Korea, etc), weather patterns (Hurricanes, blizzards, floods, heat waves), seasonal trends (Summer travel, holidays, four seasons).

If OPEC decides to cut production, the whole world is screwed.

Don't let anyone else tell you differently. Yes, if we were not at war the price may be lower, but if you remember (maybe you don't) gas was $2.28/gal long before the war. Hurricane Katrina caused a hike in prices because the ships couldn't get to the ports because the ports were wiped out. Refinerys were destroyed too. There's lots of things that determine the price.

Remember too, that gas in europe is $5.00 U.S./gallon, so we don't have it that bad.

Answer 3

Well they did go down pretty far. Nearly $50 a barrel a few weeks ago. But now they just jumped to $55 a barrel.
I think it might be lower in the next several years. They are making cars that run on alternate fuels and Lots of more alt fuels are coming around. I bet Gasoline will be a minor source of energy in like 20 years. I don't know if Saudi Arabia will run out.

Answer 4

gas prices are high because we need the gas, supply and demand and all that. Yes Saudia Arabia will run out of oil someday. Gas prices will rise over the next 20 years, and no Bush does not control oil prices. They are controlled by the oil companies, and how much we, the users, will pay.

Answer 5

I don't know where you've been, but gas prices are considerably lower than they were last summer. And the Saudis just announced today that they are cutting production even further, which should reduce the price even more. Pay attention, girl. You might learn something.

Answer 6

1. Saudis and others in OPEC are limiting the supply, precisely to keep prices up - they get more money this way.

2. Chinese are getting rich and buying cars and air conditioners amd microwaves, and they need energy to power them. So they increase demand for oil.

Answer 7

Hillary, is this you?

Gas is $2.19 / gal in Arizona ... the cheapest it's been in years. I'm confused about your question.