Why do you think oil prices are so high?

First we were told it was because of hurricanes in the gulf and the need to shut down platforms; then we were told the supplies were low; then we were told it was because of the fear of terrorists attacks. As the price continues to climb what do you think are the REAL reasons oil is at $120 a barrel?Why do you think oil prices are so high?
because it is sold on the international market...price is set by supply and demand, which in some cases is ';controlled'; by outside effects like you listed. Some of those scare tactics may be fabricated...some legit. A local Oklahoma refinery burst into flames a year ago and gas here jumped .25 a gallon for a week....that refinery supplied ZERO local pumps....Why do you think oil prices are so high?
It is a non-issue to politicians. We have enough oil in North America to meet our demand for 100 years, but it is just like everything else 'free trade' and the world demand sets the price.





I think its time for us to at least keep it in the continent.
Supply and demand. Demand is up worldwide and continues to grow.... thus the price rises proportionally...


In the meantime, Evironmentalists and the wackos who support them, do everything they can visa-vi the court system to stop us from expanding drilling to known areas with MASSIVE oil deposits in our own territory....


AND our politicians are too spineless on BOTH sides of the isle to challenge them, or to do a damn thing about it.
I do not know. But I did hear plastic face polosi say she wants the oil to stop being stocked in the strategic supply.





And I ask myself is that their plan to combat gas prices. Why not remove the federal tax. Or cap it at $2.00.





But I guess the dems who pissed and moaned when the Republicans were in charge had no reason to do any better
I think it is because the world is running out of fossil energy. Carbon doesn't form oil as quickly as we use it. The world will run out in less than 30 years at the CURRENT rate, but will run out sooner with an increase in demand/use. As the supply dwindles, the price rises. pretty simple economics.
China, India, modernization of countries, large population, more cars, houses, equipment, oil traders, etc





Basically, more people using more resources, means a higher demand. Higher demand means higher prices.
Because there are alot of greedy low lifes in the oil companies,who don't care how much others struggle to try and get by.They are a nothing but a bunch of FAT ticks (oil company execs) feeding off a weary dog, helpless to stop them.
its called inflation...... Why could I buy a ticket to go to the Phillies game for 50 cents back in the 70's and get quarter hot dogs? Now a days Its 50 Dollars a ticked and $4.25 a Hot Dog.... It's how the economy works
simple. supply and demand. china and india are using much more than they use to and supply is about the same. oil goes basically to the highest bidder.
In part because oil is a comodity sold on the world market and there is a lot more demand now that China and India are becoming more modernized. Partly because OPEC can control the supply.
it's mostly supply and demand or projected future demand. The weak dollar is exasberating it. We'll be at $200/barrel with in 2 or 3 years.
Simply law of suppy and demand





The dems need to let us build refinires and drill in Alaska instead of worrying about the breeding habits of the moose
Demand, weak dollar, war and conflicts in the world, and skiddish investors.
Huge demand and limited supply.
The Chinese gave up rickshaws and the Indians ( Hindu type ) gave up ridding donkeys.


That is a very large market for only so much oil.
Demand from China and India's growing economies.
With $40 billion profit, it seems like Big Oil Company greed. Of course I don鈥檛 understand why we taxpayers give these same companies billions in subsidies.
The Dollar is so low. The oil is the same.
Because the knee-grows are wearing their pants to low.
Because the US dollar has been devalued globally.
Unrest and turmoil in The Middle East.





This result was predicted.


';Mission accomplished.';