Why is Oil so high?

Question

Is it because Dietz said Dietz said a meaningful, sustained price decline in oil can oil occur only after global demand declines, and the safety cushion increases. "It doesn't look like the supply side will be able to do it and eliminate shortage fears," Dietz said. "When China and India start consuming less oil, year-over-year, that will be the market's cue to take oil prices lower, not before

Like humans consume too much

cut down on the humans oil will go down

All humans do is consume

like don't even try to cut down on it.

Like two or one meal a day

and stop having kids

human control is the true answear

Answer 1

Your question makes no sense.

Answer 2

The next time you want to ask a group of economists something, please try not to voice it through the grammar of a 13 year old girl.

To answer your question though, oil is in demand because it is liquid energy for heat, mechanics, electricity, cars, and production.

America used to have the most need, and it was fine because Saudi Arabia and other oil exporters were willing to sell it to boost their economies.

However, now that America, China and India all want oil, it becomes more expensive. Greater demand results in a greater price for the product, and then you pay more at the pump.

Now, if we could all use a little less oil, and get our energy from places that give it away for free like the sun, geo-thermal sources, and wind....

Answer 3

Supply and demand.  85 million barrels or oil is produced daily.  85 million barrels of oil are consumed daily.  Can't produce any more oil.

In China and India, they are building national highways to replace local roads.  In China, 1 out of 70 persons have a car, in the US - it's 1 out of 2 persons.  Wait until China gets to the US's level in 10 years.  Oil will be $200+ a barrel.

Answer 4

The devaluing of the US dollar it has loss 97% of it's value . An the greedy speculators  .