What make oil price so high?

Question

What make oil price so high?

Answer 1

non availability

Answer 2

Bush is trying to fund a war in Iraq by borrowing instead of raising taxes.  The result is that the oil producing countries don't want our dollars as much.  We don't want to make anything in this country anymore.  All the work is going to India and China.  We are funding the growth of the middle class in India and China.  While demand is increasing as India and China modernize, most of our problem in the US is due to the drop in value of the dollar.

Answer 3

OPEC

Answer 4

globle warming for one thing cause of the pipeline the premafrost is not freezing so that the pipe line breaks and that the war in iraq is another reason

Answer 5

Supply and demand, but they also say that someone has their hand in it trying to lessen the value of the American dollar which in turn will weaken the economy and ultimately disrupting the flow of commerce throughout the entire world markets.

....cya....peace....

Answer 6

The various causes for soaring oil prices are scarcity, speculation, demand and supply, OPEC.

I read the news update given by Finexo that World energy powers representatives convened in an emergency meeting in order to find a solution for the uncontrollable rise in oil prices.

Despite the fact that Saudi Arabia has agreed to pump more oil, analysts state that this will not remedy the $40 record-surge in oil prices since the beginning of the year from rising even higher.As the growing tension between Iran and Israel cause a rise in oil prices of more than $1 a barrel, the currencies remained stable.

Answer 7

Half of our money paid at pump goes to Wall Street speculators. And we can not hear or read main media reporting them. We are kept in the dark

“Testifying to the House Energy and Commerce Committee, Michael Masters of Masters Capital Management said that the price of oil would quickly drop closer to its marginal cost of around $65 to $75 a barrel, about half the current $135.”

http://www.marketwatch.com/news/story/ga...