What are some of the factors that are driving the oil prices up?

Tony H is right. There are millions and millions of cars on the highways and roads everyday, and they're not electric cars. They all need oil. In order for me to go to Wal*Mart, I need to jump in the car... What would I do without fuel? I have no idea. We are addicted to oil, because it's the only energy source for cars right now.





Another factor that is driving up oil prices is the people who spread the idea that oil is limited. There's a limited supply of oil, and we're running out. Of course, I know there's a limited supply of oil. But that limited supply is so huge that I believe we'll invent several new energy sources before we run out of oil. Anyway, people spreading the rumor that the earth doesn't have enough oil is one reason why the price is going up.





Remember, there are people who trade oil. They buy oil, if they think the price will go up. And they sell it if they think the price will go down. So, the price of oil could violently rise or fall any time because of what people feel or think at the time. The rumors people believe about oil are already affecting the price of oil. What we pay at the pump is the result of all our beliefs about oil. Some of those beliefs are true. But some of them are not. Whether they're true or not doesn't matter, because what eventually matters is supply and demand.





How much oil we buy and sell is the only thing that determines the price of oil. I just buy oil. I don't sell it. But there are folks who buy for the sole purpose of selling it later at a higher price. People call them greedy, but that's not really true. By the time oil will be scarce and very expensive, these folks who saved up oil will begin to sell it and allow us to have oil when the world runs out of oil. So, we need to be thankful for people who save oil for the latter days when we won't have any. Let's not call them greedy. They are doing us a service, and the time may come when we will be thankful that they had some oil in reserve. There's nothing evil or bad about being a provident. Commodity traders are a crucial part of our economy.What are some of the factors that are driving the oil prices up?
Greed Greed Greed Greed Greed,, oh yes,,, one other thing, GreedWhat are some of the factors that are driving the oil prices up?
mostly greed and the iraqi war.





the middle east is one big oil refinary, so when we r blowing it up, its harder to get oil from it, there for itsmore expensive.





also there is this thing called supply and demand. if someone wants something bad enough, they will pay the price for it. the oil people know this, they know that we can deal without oil, so they can jack up the price to whatever they want, beacuse we will pay it.
everything under the sun but mostly greed and conspiracies
This may not be a popular comment but I鈥檓 afraid it鈥檚 two major conditions 鈥?limited field reserves (restricted to violent places in the world) and ineffective contractors driving up owner鈥檚 cost.
The major factor that drives gas prices up is.....(drum roll).....we will buy it anyways, my car doesnt run on water!
Supply, demand, and mideast social stability.
We are using up the resource too fast. Oil took hundreds and thousands of years deposited deep in earth to form. And we are pumping it up like there's no tomorrow. So as oil banks starts drying up and finding new ones are becoming harder. Price goes up. Also, from all the refinery fires, damages, and etc causes less oil production too. And don't forget all the middlemen trying to get their greedy hands in on the money. Hope this helps.
Wow! minimum wage has gone up,Is that a fact?