Does anybody have a clue as to why crude oil prices have trippled in the last few years?
Are the oil companies fixing prices?
Is every country on the planet paying more for crude, or is it just the USA?
What do you think is causing the price of crude oil to increase in USD on the international market?
2007-11-07 00:42:47 · 10 answers · asked by Anonymous in Politics & Government ➔ Politics
lol
DOC: the EPA was Nixon's landmark policy. Nixon established the EPA not Carter.
2007-11-07 01:04:36 · update #1
1. The Chinese are getting rich enough to buy a lot of modern things that use oil.
2. The federal government is devaluing the dollar in order to save the banks and people who bought houses that they couldn't afford with sub-prime mortgages.
3. We're paying for Bush's war by devaluing the dollar.
2007-11-07 00:51:19 · answer #1 · answered by junglejoe 2 · 1⤊ 3⤋
Speculators are worried about Iran. OPEC is predominantly a Middle Eastern group. Yes, in the last month, we've seen a jump, due largely in part to the rhetoric coming out of Washington and the policies towards Iran. But you also have to take into consideration the Jimmy Carter's EPA set law standards at a height making it almost impossible to make a refinery in this country and as such, a new one has not been built since 1976. At that point, it becomes a matter of supply and demand. And as long as Americans continue to drive behemoth SUVs that get less than 16 MPG, and refuse to make themselves independent of foreign oil -- either by domestic drilling or tapping into alternative energy sources, we will all continue to pay the price. Greed is a great factor as is politics.
2007-11-07 00:57:19 · answer #2 · answered by Doc 7 · 1⤊ 0⤋
The falling value of the dollar and increase in demand while supply is not keeping up. I love this type of question. Economics questions always bring out the extreme lack of economic understanding of the left. Some how Bush controls the price per barrel of oil on the world market.
2007-11-07 00:50:50 · answer #3 · answered by Bob J 5 · 2⤊ 0⤋
All the main reasons have been given above.
But Bush had a very specific agenda from the start, to drive the price of oil up, and was willing to do anything to achieve it. 200-500,000 people are dead as a result. And the world is in turmoil.
We all pay more in our daily lives.
I can't believe you idiots voted for him.
2007-11-07 01:05:22 · answer #4 · answered by instantdegrees_scam 2 · 0⤊ 0⤋
It does not seem to be price fixing or collusion. Crude oil futures (speculation) enhanced by the lack of refineries apparently is the driving force behind these outrageous prices.
2007-11-07 00:47:35 · answer #5 · answered by credo quia est absurdum 7 · 1⤊ 0⤋
Oil companies can charge whatever they want to for oil, and people have to pay it regardless. They can raise oil prices to absurd levels, and unless they hit the prices seen in Europe (which are in excess of ten dollars a gallon), then they won't see any negative changes at all in their revenues.
2007-11-07 00:50:32 · answer #6 · answered by - Tudor Gothic Serpent - 6 · 2⤊ 0⤋
Increasing demand in China and India are increasing the price. Also, political tensions in Venezuela and Nigeria are also pushing up the price.
2007-11-07 00:48:24 · answer #7 · answered by Anonymous · 3⤊ 0⤋
I thought Bush was going into Iraq for the oil?....Guess not.
2007-11-07 01:07:57 · answer #8 · answered by Early Cuyler 2 · 0⤊ 0⤋
Thank the current president for fanning fears of yet another war in the middle east. Fears about supplies have driven the price sky high.
2007-11-07 00:46:00 · answer #9 · answered by Holy Cow! 7 · 0⤊ 4⤋
bush and his cohorts can tell ya
2007-11-07 00:47:18 · answer #10 · answered by Anonymous · 0⤊ 5⤋