Wall Street or supply and demand blame for oil prices?

This is just not cool. Watching my portfolio sink and airlines starting to shut down.


There are NO gas lines!!! How can there be a shortage?Wall Street or supply and demand blame for oil prices?
Both. Wall Street speculators putting up too little cash when buying oil commodities. World demand of oil sue to our desire for ';Everyday Low Prices'; and the corporate world's desire to outsource jobs to India and China. Their economies are booming as is their demand for oil.





Also the reluctance of congress to do anything about drilling, new power plants, alternative energy etc. Congress hasn't done anything since the energy crisis of the 1970s.





And OPEC of course. They have us on a lease.





And the environmentalists. They'd rather see us freeze in the winter time than to harm an insect, mussel, bird or ';gasp'; polar bear. I wonder if they have heating at home, or use flush toilets.Wall Street or supply and demand blame for oil prices?
The shortage is occurring mostly in poor countries. This is a supply and demand problem, the impact of speculators is likely nominal. It is even possible that they have reduced the actual price by providing liquidity to the market.
I agree with OPM. Speculators have little to do with it. Honestly, the biggest contributors to higher oil prices are developing nations such as India and China. These nations' economies are literally becoming thirsty for oil and other forms energy to support their economic growth. Just as the demand for energy in the U.S., Britain, and other currently developed nations exploded during their industrial revolutions a century ago, developing nations are following suit.