It has major oil companies based in the most places that extract oil, such as KSA, Nigeria, Qatar etc, and day by day, the prices seems to get higher and higher...
Now, how is the states extracting this amount of oil, and it is still expensive!!! Are the Citizens being ripped off??
2007-10-17 19:04:04 · 8 answers · asked by Ghanouge 4 in News & Events ➔ Current Events
Yes we are being ripped off. It's all Bush.
2007-10-17 19:11:31 · answer #1 · answered by Anonymous · 2⤊ 2⤋
You apparently don't know much about the commodities markets.
Speculators look at situations around the world like oil inventories, things third world dictaors are doing, and in the past few years countries like China and India are seeing a big incease in the # of people able to own cars and this is huge. These things cause speculators ( like I have been in the past ) bid up the price of crude. The oil companies are really a small part of the price rising. They play a part but compared to market speculators it's a small one.
2007-10-17 19:17:35 · answer #2 · answered by kevin s 6 · 1⤊ 0⤋
Oil companies have offices in those and other countries you list but the oil companies still have to buy the crude oil from the various nations where it's brought out of the ground. Then the companies have to get the crude back to their refineries here, process it, then get it out to the dealerships. All of that costs money and the consumer ends up being the poor schmuck that takes it in the shorts 'cause the oil companies *are* ripping us off simply by demanding we pay one helluva lot more per gallon than it cost them.
2007-10-17 19:16:29 · answer #3 · answered by Anonymous · 1⤊ 0⤋
It has something to do with economics law on supply and
demand. It seem that although there is a continuing supply of oil, yet it cannot cope up with the demand of countries needing it to fuel their industry. It appears that the demand
exceeds thesupply, thus the U.S.A. and their arab counterparts has total control of prices and if no substitute
source of power and fuel can be discovered soon, the world
would remain in the mercy of these powerful bloc.
2007-10-17 19:15:06 · answer #4 · answered by Orlando M 3 · 1⤊ 0⤋
Welcome t o the age of peak oil dear.
Where rising demand cannot meet supply.
http://en.wikipedia.org/wiki/Peak_oil#Peak_oil_production.E2.80.94has_it_happened_already.3F
In the next ten years things will only get worse.
Watch out for the $300 for a barrel of oil.
2007-10-17 19:19:15 · answer #5 · answered by Gamla Joe 7 · 1⤊ 0⤋
Decode this lyrics " Gimme,gimme,gimme."
When the " Big Boys" say no.
The dead Mummy could not read.
The " Big boys" don't want the small boy become " All Blacks"
Luke 9.55-56
What do you think?
2007-10-17 21:24:28 · answer #6 · answered by Anonymous · 0⤊ 0⤋
itz all bush's fault that we at war wit them and itz his fault we payin alot for gas now adayz to answer ur Q yes us citizens are being ripped off...
2007-10-17 19:17:56 · answer #7 · answered by Anonymous · 1⤊ 1⤋
you bet ye, and we love it.
2007-10-18 16:15:35 · answer #8 · answered by Anonymous · 0⤊ 0⤋