I though that was one of the reason we went to Iraq for, whats going on?Should't oil price be getting lower instead of higher?
Yeah... but things didn't go as expected isn't it?.....Should't oil price be getting lower instead of higher?
While one of the reasons we went to war was for the oil, it sure was intended to keep the price down. It was just meant to keep it available.
Remember ';Desert Storm';? Iraq invaded Kuwait. We went in and beat them back. We secured not only Kuwait, but the rest of the middle-east? Did a grateful OPEC offer reduced oil prices or pay us back for the American public's financial and personnel costs? All they had to was increase production. We got nothing.
It's super rich, super powerful people watching out for themselves. Forget the old ';supply and demand'; argument. The supply is there to satisfy demand and reduce prices back to the $60 a barrel it was a few years ago. They just have to increase production, which they can do. Why should they? To help you out?
no,it wasn't one of the reasons.although i think it should have been
the reason oil is going up is because we aren't the only people on earth who use oil.
the chinese economy is booming and they need more and more.
supply and demand.
China's consumption grows by the day. They are a country of 2 BILLION people (compared to our 300 million).
The oil cartel (OPEC) decided to keep production the same even though the consumption is doubling.
What part of the same production vs. doubled consumption would equate to lower prices?
As China's economy grows, and more of their people buy homes with electronics and cars, oil (and food) will become more and more expensive.
The rich in our country and Europe, will get richer, and the rest of us are being shoved in poverty. Worried yet?
Ever heard of Three-Card Monte? Well, we just got screwed.
what has our presents in Iraq got to do with commodities trading. Oil is traded on a world wide commodities market and prices are set by buyers and sellers.
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