Why is it that the price of OIL is over $1/L again?

Toronto, CanadaWhy is it that the price of OIL is over $1/L again?
Among other things, poltical tension with Iran, production problems in Iraq, and civil unrest / gangsters in Nigeria. Add in the fact that demand (especially from China) is higher than ever, and that accounts for a lot of it. Also, market speculation has had quite a role to play, including OPEC being very coy about its production quotas, and commodities traders (who are out for a profit like anyone else) running the futures up.Why is it that the price of OIL is over $1/L again?
It has to do with the price of crude. It's up again.
Ours is $2.39 and I don't see any reason for it.
Because people will pay it.
The whole process of getting oil and processing it is a Huge expensive, and dangerous oredeal. And a dollar a liter isnt really that much. A half-liter of bottled water can cost $1.50. A cup of coffee cost around a buck and a half. Gas compared to these things is cheap, just feel lucky you live in north america where getting gas is easy. Other countries you must wait in line for hours and hours to pay way more for a liter of gas.
A lot of people believe that it goes hand-in-hand with precious metals prices. This is a misconception but it still seems to be the case that as gold goes up, so goes oil. Gold, silver, platinum and palladium are all at the highest prices in years, and look, oil it right with them. If the precious metals keep going up, expect oil to do the same, and expect the Canadian dollar to keep getting weaker.
Because they can charge what they want, and we are stuck paying for it. We don't have reasonable alternatives, and THEY have most of the oil. When we can be competitive (either with oil or another type of energy), then the price will drop. (Think of the only guy selling bottles of water in a desert...he can chanrge anyhting he wants, and people will buy).....HIGH demand, not enough supply/suppliers
Lack of refineries, and lack of drilling in North America.