What caused the price of oil to sky rocket over a hundred us dollars since January?

Question

below is the list from the media i hear over and over again, tell me what you think is really going on

1. peak oil, "limited supplies"

2. demand destruction caused by a spike in oil prices

3. recession causing the us dollars value going down

4. greedy traders manipulating the market

5. OPEC and non OPEC countries playing the oil game

6. refinery compacity combined with the summer demand surge causing market fluctuations

7. civil unrest in oil producing nations

8. constant catastrophic climatic conditions

9. George bush and his foreign policies

10. Exxon and other oil giants taking advantage of the market

11. surge in demand in countries such as India and china

Answer 1

3 & 10 combined along with the inner workings of the Bilderberg group and other such organizations. America's dependency on foreign goods will never secure our wealth.

Answer 2

4, Greed...Same reason we sold out American Workers for Cheap Chinese products..

Answer 3

there is only so much oil in the world...they who rely on the oil reserves to feed their people must look ahead to the time when their oil is gone this combine with the natural desire of greed and the desire to use oil as weapon against the world at large=124us pb...even if the violence stops the price of oil can not be allowed to drop to far...why...just look at the first part of the answer

Answer 4

Extremely simple.- It's called greed!

Answer 5

First, demand destruction is good--it brings down prices.

The biggest factor is the value of the dollar.  Followed by civil unrest, and increased foreign demand for product.

#10 is ridiculous.  Whenever I hear that I can't help but laugh.  Of course oil companies want to make money.  But they aren't taking advantage of you.  They are trying to cover the costs they are incurring.  Its like a fast food restaurant charging more for cheese.

Bush has nothing to do with this.

There is something to the traders manipulating the market.  Look up what the CFTC is saying about Vitol.

Hope I helped!