Why is oil collapsing?

Question

Are American's actually all out of cash already?

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Answer 1

we've been out of cash for a long time, it is all chinese IOU's that keep us afloat.

Answer 2

seriously...what is our government up to...pricing oil and such...

please answer me question:

http://answers.yahoo.com/question/index?...

im dying to get someone else's point of veiw...is this for real or some sick joke? seriously.... governments up to something

Answer 3

the price of crude is collapsing because it was driven up to a price not sustainable by supply and demand.  speculation drove it up past that point.

Answer 4

because big money is getting it's way.  All these oil companies have to do is buy from foreign countries and sell to us, thus getting rich without having to work for their money.  The government has given them over 6 million acres they can drill on but why should they work when all they have to do is rake in the money by buying and selling.  Why don't they build new refineries?  Their money has gone to their heads and they don't want to give any of it up.  In spite of all their huge profits, they are waiting for the government to give them the money to build new refineries with. Greed, lust and corruption have taken over this country but it won't last much longer.  All these fat cats are going to wake up one morning and find out that they are so light they can float on air.  It all begins with a change in the weather.  Has the weather seemed a bit strange lately?