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Toots

Why is the price of oil just going up and never down

BMC:

Whenever we decrease our interest rates the value of the US dollar goes down so the cost of a barrel goes up. China and India are creating/filling their own federal reserves right now so they are buying twice the amount they normally would. So long as there is an unstable economy investors will invest in commodities which currently accounts for about $40 per barrel. Our refineries want to make money and this article explains allot the problems there for us the consumers. http://www.msnbc.msn.com/id/19276523/ We still have another 30 years left being tied to the refineries and between them, the big money investors who have the politicians in their pockets, the politicians who invest themselves and the environmentalists it ties alternatives and changes up in red tape. The answers are all out there ready to go but here it will sit in committe meetings for the next 30 years.

Toots:

Wow. Thanks Penny

Computergeek:

The rising price is fueled by strong demand, worries about supplies and the eroding purchasing power of the dollar.
Meanwhile, political instability in major oil producing regions — from Nigeria to Venezuela — threatens to further crimp the flow of oil. Recent U.S. saber rattling with Iran has added to concerns about possible supply interruptions.
There's two oposing viewpoints here: http://angrybear.blogspot.com/2008/03/frankel-and-rapier-rising-cost-o​f-oil.html

Toots:

Thanks for the good explanation

Samuel Deva:

greed- one of the deadly sins...

Porkenstein AKA Pork, Porky, Porkens:

That is a stupid answer.

.......:

World demand for product. China and India, due to their rapidly increasing demands and needs for oil are directly impacting the cost of crude. Also the supply of liquid dinosaurs ain't what it used to be. Why does ANWAR come to mind?

Toots:

ANWAR ??? Tell me more :)

.......:

ANWAR is a huge potential oil field in Alaska that is untapped due to the restraint of the US Congress due to enviromental (and political) concerns.

Maggie:

Because it can. It is a necessariy commodity. People will pay for it, or not be able to drive their car(s). It's a lose-lose situation for the consumer.

Mrskid:

Seriously? You have to ask? Demand, of course, BUT WE'RE RUNNING OUT OF IT, TOO! Nobody's figured out how to make the earth manufacture more. When it's gone, it's gone, and we don't have alternate fuels yet. Remember that the next time a Hummer or oversize SUV pulls up next to you.

Porkenstein AKA Pork, Porky, Porkens:

Actually the earth is manufacturing more of it every day. It is just being manufactured more slowly than we are using it.

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