About Oil Prices

Geoffrey T asked:


Now that the shape of the current crisis is becoming clear, so do some explanations. We can trace the banking crisis to unsound lending practices. We can make sense of food price inflation through increased demand from developing countries and rising transport costs. But the mad see-sawing of crude oil prices up to 140 dollars and now down to 40 dollars remains a total mystery to me. ‘Speculation’, some say but is this more than a mantra ? No speculators have been identified. If anyone is willing to share their economic wisdom, I’d be most grateful.

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Stanley asked:


Why is the oil price rising? Are these guys raising the oil prices just to suck the juices out of other nations that do not have oil reserve?

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Da.Drama.King asked:


The graph below shows the short-run aggregate supply curve for the United States. Suppose Iran, the world’s second largest oil exporter, severely curtails oil production — leading to a sharp increase in oil prices. Show the short-run impact of this oil price shock by dragging the curve to the appropriate position.

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TampaBay asked:


Is there any regulations with the oil/gas company or gas stations?
Crude oil propped below in the past month and now at below $40/barrel. In the mean time, the price at the pump raised from $1.79 to $1.85/gal for regular 87 octane. I remember few yrs ago at $40/barrel, the price at pump was around $1.70/gal.

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Uchu asked:


I am puzzled with what is driving up oil price from 50 to 150 dollar per barrel in less than 2 year’s time. Isn’t the occupation of Iraq and Afghanistan serve to secure oil supply? Some factors that I can think of are:
1. increasing demand from China and india
2. reducing OPEC production
3. weakening of dollar
4. problem of Iran
However, I still cannot the impact because none of the above factors have changed so drastically in the last 2 years. Where can I find good resources to analysis this problem?

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skahhh asked:


At what price per barrel will the USA and it’s government cease to exist? Is this how communists/Al Qaida is planning to destroy the United States from inside out?

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laurentmg asked:


They added fees for checked bags, meals, reservations. They increased number of miles needed for rewards etc etc. All due in part by high oil prices. With oil back below $100, will they readjust prices?

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fsbic asked:


Crude futures swung near 145 U.S. dollars a barrel Monday on mixed news of global supply concerns and dollar tradings.

Light, sweet crude for August delivery edged up 10 cents to settle at 145.18 dollars a barrel on the New York Mercantile Exchange. Price moved between 142.49 dollars and 146.37 dollars during the trading session.

U.S. President Bush lifted an executive ban on offshore oil drilling on Monday and urged the U.S. Congress to act as well in a bid to cool the high energy prices. However, analysts do not believe that such a move will ease the tight global crude supplies in the short term, because it would take months or years to get actual output from new fields even if the bans were removed.

The dollar gained marginally against the euro and yen on Monday after the U.S. Federal Reserve and the Treasury Department announced unprecedented steps to support the plummeting mortgage giants Fannie Mae and Freddie Mac. But the dollar fell against the sterling pound and the Swiss franc. The dollar’s mixed trading contributed to the fluctuating of the crude futures.

Meanwhile, supply concerns continued to weigh on the market as Iranian officials said on Sunday that the country would fight back against any attacks and “cut off the hands” of invaders, and the oil workers in Brazil began a five-day strike on Monday. Worries of disruptions of oil production and exportation in Iran, Nigeria and Brazil sent the crude futures to an all-time peak of 147.27 dollars a barrel on Friday.

In London, Brent crude for August delivery fell 57 cents to settle at 143.92 dollars a barrel on the ICE Futures Exchange.

 

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yellowhamster227 asked:


Petro offers a one year service with a choice of having heating oil fixed at $2.939 per gallon or one that fluctuates and is currently 2.779 but has a ceiling of 3.109 and can’t get higher? Which will be better?

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BekindtoAnimals22 asked:


High priced oil not only effects freight companies, but also any manufacturer that uses many chemicals. When only the largest companies are left, what prices will we pay for everything because of the inflated oil price as well as the lack of competition between businesses offering the same services and/or products? Many freight carriers are going out of business now. Trains are being used more but trucks are still needed for deliveries to places who do not have a rail dock.

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