ZACK U asked:


Oil is increasing because as you get closer to supply overload, perhaps the oil price starts becoming asymptotic.

The economist said speculators couldn’t drive up the price of oil because they are simply trading ‘paper barrels’. However, all this demand for contracts has to increase demand somewhere; They buy oil, then they sell it before ‘delivery,’ but in the process they are increasing demand.

It would seem that oil price could come down fairly easily. There is 1 million barrel discrepancy between supply and demand. With people’s lifestyle changing a little bit, you could easily take out 4 million barrels of demand and then the price could really plummet to 30’s or 20’s.

Nevertheless, this would mean a constant constraint on world growth, as every time the global belly would swell a price shock would ensue; demand growth is faster than supply growth.

It will be interesting to see where it goes. Please leave your insightful comments below.
Eventually high prices make alternatives attractive.

Did you know that hydrogen is cost efficient at 150 a barrel? you can use coal or nuclear to turn water into hydrogen, at an energy loss, but cost is what matters in the end.

Oil will not stay at thsi price but the constraints on growth will… This will mean people will notice another oil shock after it goes down again fairly quickly. This is why alternatives become viable.

The best outcome will be a combination of all the alternatives. And….nuclear power.
Mrs. bugsme…

I think your right about that…it will take a few years before this starts happening though, perhaps two decades…In the transition period, oil nations will have a ball.
in other words..its going to crash and oil nations will not like the outcome (its not their fault or anything that oil has gone up though)…but then perhaps it will go up again a year later, so, its up for grabs.

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michrb52 asked:


this is a quote from AP wire services:
“A purported Taliban spokesman, Qari Yousef Ahmadi, claimed in a phone call to The Associated Press that militants shot the helicopter down in southern Helmand province, THE WORLD”S LARGEST OPIUM POPPY GROWING REGION WHERE COMBAT HAS BEEN HEAVY IN RECENT MONTHS”
The USA government really does not care care about Darfur because they have nothing the USA wants , nothing that makes money. The U.S has interests in Iraq for the oil of course, is the TRUTH OF THE MATTER that the U.S.A. is fighting (or whatever the U.S.A. is doing) with Bin Laden in Afghanistan REALLY to PROTECT the U.S.A.’s interest in the OPIUM POPPY? As Afghanistan has nothing else the USA would want and the USA really has not tried very hard too “get” Bin Laden anyway you know (and i hope you are not foolish enough to believe that the USA does not have an interest in the drug trade..of course the USA does!)
the USA’s “war on drugs” as everybody knows ..is a big fat front and a farce, the USA makes money off the drugs and it also helps to anesthetise (and kill) the underclass)
the usa has released propaganda to US citizens that Bin Laden is now using the drug money from the poppies to finance his terrorism as if he finally woke up and now instead of not allowing planting of poppies he is now protecting the poppies for his own needs. How stupid does theUSA government think it’s citizens are?

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wrepete1951 asked:


I am so tired of gasoline prices spiraling out of control while the oil companies continue to report record profits that I could scream. What are they doing with all that money? They certainly aren’t drilling for more oil here in the states. Meanwhile, we continue to be held as energy consuming hostages by those towel heads over there in the Mid East and other places such as Venezuala. Every time we fill up at the pump we are funding the drug trade run by Hugo Chavez, or the terror campaign headed up by people such as Osama bin Laden. When are we gonna get are heads out of our a**** and fix this mess? If it isn’t already, it just may be too late.

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Defunct asked:


Four years ago my macroeconomics professor suggested that the war in Iraq is being fought because Saddam wanted to trade oil using the Euro instead of the US dollar. Could someone explain what that means and why it would hurt the US so much as to cause a war?

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Josh3 asked:


What are your feelings about gas prices ever returning to $2.99 a gallon or even $3.50 a gallon. Or will oil prices ever return to below $100.00 a barrell again anytime in the near future?

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sanctus.angel asked:


President Bush said during an interview that the reason food prices are sky-rocketing is due to the fact that a barrell of oil is $126. How do food prices appertain to oil prices and why does the economy revolve around oil?

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Masseur_at_Play asked:


It appears that Iraq is going to start producing a lot of oil due to its newly installed government and the over all war effort of the U.S. and talks on how Iraq can improve itself through increased oil commerce. Iraq has enough oil reserves to supply the U.S. with a good 70 years of oil, but as we all know the gap between oil supplied and oil used is what greatly determines oil prices and this gap can easily be covered, and covered in excess, by Iraq. As such, how long do you think oil prices will continue to remain high?

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Whitman Lam asked:


Just when the price of oil falls below $ 40 a barrel. It’s lowest level in years. All of a sudden there is an explosion of violence in the Middle East, Russia shuts off gas to Ukraine, and OPEC cuts production.

Instant 20% jump in oil prices … I think the Oil companies have a hand in it.

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I’mTheQuestionWithoutAnswer! asked:


There was a huge oil price increase, did this increase had to do with global warming regulations. If not what are the determinants for oil price.

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