[tie]

Originally posted by CreepingDeath:
Evidently Bush/Cheney is behind this one too!!!11!!!

Take some basic economics courses people. I'm not genius, but this is all common sense.
Oil is taken out of the ground. Right? Right.
When there is less demand for oil, prices go down with the demand. Perfect opportunity for buying, correct?
When there is a HUGE demand for oil, prices go up with the demand.

Currently, China is using alot of oil. I believe China has also stopped selling coal outside of the country leaving coal prices to go only one way: up. Coal prices are up very high right now.

Oil prices have finally gone up. It was going to happen anyway.
Also, some say prices might have to do with the oil platforms and hurricanes. There is most likely an effect there as well.
Also, it'd be helpful to examine the economy and related news of our largest oil suppliers to see what's happening there, too.

Supply/demand doesn't apply so simply with oil. Prices in the oil market can be largely controlled by the OPEC cartel. There is a growing demand from China. But the US is using much more oil than China. Half the US's fuel consumption goes toward transportation, half that to SUVs, so SUV owners (and our government's encouragement of them) certainly deserve some blame. Many "experts" think that there is a terror premium on oil prices of ~25%. They worry that Saudi Arabia's infrastructure, for example, could be very vulnerable to terrorist attack. This terror premium is largely Bush's fault for filling Iraq with terrorists. Of course there was a serious terrorist threat before our invading Iraq, but we have really energized the terrorist movement.

[aberdeenwriter]

Originally posted by tie:
Supply/demand doesn't apply so simply with oil. Prices in the oil market can be largely controlled by the OPEC cartel. There is a growing demand from China. But the US is using much more oil than China. Half the US's fuel consumption goes toward transportation, half that to SUVs, so SUV owners (and our government's encouragement of them) certainly deserve some blame. Many "experts" think that there is a terror premium on oil prices of ~25%. They worry that Saudi Arabia's infrastructure, for example, could be very vulnerable to terrorist attack. This terror premium is largely Bush's fault for filling Iraq with terrorists. Of course there was a serious terrorist threat before our invading Iraq, but we have really energized the terrorist movement.

There are many who believe the govt (Bush or whoever is in the Oval Office) can and does control the price of oil.

If that were true, wouldn't President Bush already have turned the prices down so he could more easily win in November?

Here's another website for info on Peak Oil.

http://www.peakoil.net/

[angaq0k]

Originally posted by aberdeenwriter:
There are many who believe the govt (Bush or whoever is in the Oval Office) can and does control the price of oil.

If that were true, wouldn't President Bush already have turned the prices down so he could more easily win in November?

Here's another website for info on Peak Oil.

http://www.peakoil.net/

Oh no!

Having dissatisfaction at a time of crisis makes you not want to change the guy in charge, but keep him for fear someone new might take too long to really get a grasp of what is happening.

There are advantages in keeping Bush in power. It's just that they don't suffice to not change him...