Why are the prices of oil increasing so much?

Question

This is rediculous...$95 per barrel? I come home and find out under yahoo news that a barrel of oil is up ANOTHER dollar. It seems like every single day oil goes up $1 and it is just getting crazy. I think that we will eventually see how much this is really costing us at the gas station, however. How soon will gas get to average $4 per gallon? Very soon it looks like... What is your guys' opinions?

Answer 1

It isn't increasing....the dollar is falling. The dollar is worth half of what it was 4 years ago versus the Euro. In Euro terms oil has been flat for 5 years.

Answer 2

Increasing Demand AND Rising Uncertainty in the World Markets- is mostly what's responsible for the rise in Oil Prices... Barring a War with Iran sometime in the next 6 months (which would add another $1. a Gallon), I'm expecting gas to hit $3. again by Christmas, & $4. a Gallon- by next MAY. So BRACE YOURSELF; it's about to get aLOT worse... :(

Answer 3

For centuries, economists have been taught - and Americans have been told - that commodities are priced based on "market conditions". While there might be some truth to that theory, it can safely be imagined that in the case of our current OIL crisis, the Bush administration is in line with "Big OIL", helping to manipulate OIL prices with little regard for the suffering it's causing American motorists.
"Big OIL" profits have never been fatter. Six-dollar-per-gallon gasoline is coming closer to reality. So, if the OIL companies make only 10% profit on a gallon of gas at 50 cents a gallon, they earn a nickel. If they make the same 10% margin on a gallon of gas at $5.00 a gallon, they earn fifty cents with very little additional cost or expense. This is the worst economic sham ever perpetrated on the citizens of the U.S.A., all so that Bush, Cheney and their OIL buddies can rape the nation and line their filthy pockets.
If there was any decency within the OIL industry, they would simply cut their profit margins and reduce their top executives' salaries to maintain lower gasoline prices. -RKO- 10/31/07

Answer 4

You Haven't Seen Nothing Yet , my friend
The current administration has but one year left in office -- and there is little hope that the Republicans will be able to claim the White House in 2008 --- So, over this next year you are going to see things happen that you will be rabid over and the price of gas is but one of these items -- there will be a Feeding Frenzy while they run amock totally unchecked !!!
Get it while you can -- will be the order of the day over this next year and three months !!

And, to the responder blaming this on the devalued dollar --- the devalued dollar is an ENGINEERED thing that is meant to trash the American Greenback so that the AMERO can be ushered in with the full acceptance and blessings of the American people ---- In order to get this North American Union thing accomplished in the time that this administration has left --- they are going to be Amping up the pace in pushing the dollar to as low as they possibily can --- and then is when they will bring the AMERO "out of the closet" as OUR SAVIOR --- (the combined currency OF the North American Union ) --- and people will Eat It Up With A Spoon !!!!!!!!!!

A sad day for the sovereignty of our nation -- and a tragic day for the nation that we once held so dear -- the days are now numbered !!! The Saudi's will have a special place in their hearts for the Bush Family after all is said and done -- and the World Bankers will have had their puppets work exactly as planned in their quest to move "Regional Unions" into place in staging FOR their One World Government !!!!!!

Answer 5

It is the fault of those who trade in oil futures. They drive the price of oil up at any hint of bad news. When there is no sign of bad news they invent bad news. If anybody out there wants to blame it on President Bush or Vice President Cheney be my guest. However I am warning you that you are showing complete and total ignorance. There is no evidence to support such allegations. If there is show your source and back it up.