The price per barrel for oil has doubled in the last year?

has the demand doubled in the last year?The price per barrel for oil has doubled in the last year?
No way!! Somebody is up to tricks...............The price per barrel for oil has doubled in the last year?
No. And the price has more than doubled. It was at a 108% increase year-over-year when I stopped watching it closely and started moving money around in my portfolios because I don't want to be exposed to this thing when it comes crashing down.





In 2002, when it became evident that Bush's budgets, our monetary policy and overall debt expansion was going to devalue the dollar, diversifying into commodities was the smart thing to do.





But now... it's a crazy bubble market no different than the dot com bubble except that there may have been a lot of manipulation going on recently thanks to predictions of analysts from investment banks who just incidentally happened to be holding a lot of futures derrivatives and who were trying to figure out how to survive the sub-prime meltdown.
Let's face it - the Saudis have us over a ';barrel'; - and their middle-eastern brothers; the following companies import oil from the mid-east: Shell, Chevron/Texaco, Exxon/Mobile, Amoco. Then we have Hugo Chavez and his ever popular Citgo.





The following companies do not import mid-east oil: BP/Phillips, Hess, ARCO, Maverick, Flying J, Valero, Murphy Oil USA (sold at Wal-Mart, gas is from South Arkansas and fully USA owned and produced).





Worthy of remembering when filling up the tank.
Yes, it has only been in the past few months that the world demand for oil has begun to drop. But even that will only slightly lower the cost of oil. Oil will remain high as long as we rely on limited supplies and speculators and investors artifically inflate the price.
I don't know about demand. I'd suggest you look at nations who are still industrializing, as a starting point.





Also, you need to factor in the people speculating in the oil market.
Here is a crazy idea.


Lets ';dump'; the entire USA oil reserves onto the market.


Might be able to retire some of the Federal Deficit.
Yes. China and India are using millions and millions of barrells a day now. They were never industrialized until a few years ago. How nice about this world economy. Right?
Ask the Democratic Congress who PROMISED to NOT let this happen.....





... ANOTHER failure of ';team Pelosi';