How big is the effect on oil prices by the war on Iraq?

?How big is the effect on oil prices by the war on Iraq?
NY Times columnist Thomas Friedman wrote before the start of the war that you will be able to judge its success if the price of a barrel of oil is $6 or $60. When it topped $70, we got our answer.How big is the effect on oil prices by the war on Iraq?
2 answers





If Americans were making their dreams come true, instead of making war would they charge these prices ?





Take a look at exxon earnings. 3rd quarter 2005 up over 75% from 3rd quarter 2004.


How many companies do you know that make over 75% more profit this year than last ?


and why are they making more profit while we pay more at the pump ?
The oil companies are not monitored by OPEC. So instead of building more refineries to process the oil we have, they run the refineries at full capacity and say ';we can't handle any more oil'; and then jack the price up. notice how the oil companies have had record breaking marks in the last 15 quarters 15x4=60 60/12=5 years of record marks.

scars