About Oil Prices

Kyle asked:


I watched the 60 minute report on it recently and im just confused how a bunch of future commodity trading made oil so expensive. Im writing a paper on high oil prices so im trying to understand why it got so high.

Thanks

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suorangelax1 asked:


let me put this out there for all of the people that believe we went to iraq for oil. why is it that gas was a little over a dollar a gallon when we first went to war but it is now over 3 dollars a gallon this long into war? you would think that since we went to iraq for oil then gas would be so cheap cause we got so much from conquering iraq right? wrong…

oil companies are gouging us, most oil companies made the highest quarterly income in history this past quarter. the price per barrel of oil has not gone up very much at all. wake up people and think about how illogical it is to say that we are in iraq for oil, come on i am 18 and graduating from high school next week and even i can see whats going on…wake up!!!!

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crabby_blindguy3 asked:


The Bush administration keeps telling us oil prices are set by the action of a free commodity market. Now, either that means talking to OPEC about prices is a waste of time or the “free market” isn’t a free market.

You can’t have it both ways. So which is it?

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yoyo asked:


The price of oil has fallen from 147 to 124 - a drop of 15% - when oil was at $147, the price of gas here was $4.00, so a 15% drop should result in gas being approx 60 cents less, or $3.40 - why arent we seeing that now, and why wont we see that in a few weeks once the prices catch up. the analysts are saying we “may see a 25 cent drop in the next few weeks.

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bmxcollections asked:


With crude oil climing to nearly $100.00 a barrel, Do you think that gasoline will be up to $5dollars a gallon by Christmas??.
I have seen $3.43 a gallon already and I think its time for the U.S to make a stand instead of being submissive corporate puppets..tell me your opinions, Thanks ahead of time.
One US liquid gallon ≡ 3.785411784 litres

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