Is the price of oil due to new emerging technologies, & is the high cost due to a last chance big cash grab?

Question

Does anyone else have the same thoughts?

Answer 1

The price of oil which is set by worldwide bids and offers is the direct and sole result of demand push inflation secondary to emergence of China and India as major automobile societies.  It does not matter what your friends at all of the networks maintain as a theory.  It is an immutable law of supply and demand that gross increase in demand without a a corresponding increase in supply will equate to higher prices.  It is that simple but is disbelieved by all TV news consumers.

Answer 2

I do agree with you. Although there are several factors for the high oil price in the world today, the high demand for energy in the emerging market like India & China contributes to this