What's Really Driving The High Price Of Oil?

[Wolfrun]

[Wolfrun]
"The pertinent point in this whole article is that in January 2007 oil was 50.00 a barrel. If you recall that was when Nancy Pelosi and Harry Ried and their socialist friends took over and all our problems were solved. You know the rest of the story to quote Paul Harvey. It has all been downhill since then, of course it's all George Bush's fault."

If you're going to point fingers at least give some plausible explanation. You're own revered Republican party has said the Dems haven't acomplished $hit (without noting that the few things that they have tried to accomplish have been shot down by the Rep minority). So explain to me how these do nothing Dems have nearly tripled the price of crude in less than 18 mos while sitting on their asses.

Believe me I don't revere either party and for the last 20 years or so neither party did one damn thing to help our energy policy. It's just that Pelosi and Ried made all those promises in 2006. I suppose no one is pointing fingers a energy companies. I work with both oil and nuclear people and believe me they are out there in the field trying and that is more than congress is doing at this point. Having run my own business I am just on the side of private enterprise and it's taking a beating these days.

 

[SAWYER]

Don't know who's driving it, but it sucks.

we're paying $3.95 for 87 octane

And $4.95 for diesel

 

[Dogmeat]

If the US demand has gone down 1% and the world demand has gone up 1.3% in the past 2 years which is not speculation it is fact the current demand is only up .3%. If the supply 2 years ago was selling for $50.00 a barrell and you take that up .3% crude should currently be selling at $ 52.25.

This is not a supply and demand problem. I'm not agreeing with Ralph Nader, but I do believe the price is driven up by speculation. It's called greed and from what I can tell if you don't have any "greed" you better find a way to get some. All the money in the world will not insulate you from the short term affect (the next 5 years) of the problem is not corrected soon. Money and Real Estate won't be worth anything.

Yeah but that isn't a proportional ratio ... World Demand VS. US Demand.

If the US demand has gone down %1, that equates to about 200,000 bbl/day ... World demand is nearly 87 million bpd, so if that's risen 1.3% it's gone up by 1.131 million BPD .... So there's still an increase in demand that's roughly 900,000 BPD ... that's an awful lot of oil in reality. It would take a very large area with very productive fields to make that up.