What is the root cause increasing oil price?

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oil price
incognito asked:


What is the cause of the escalation in oil prices. I have heard it is a supply and demand issue. So is it that demand from emerging markets has increased that much to cause such an increase?

Raul
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    • This entry was posted on Monday, April 21st, 2008 at 6:34 am and is filed under oil prices. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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    6 Responses to “What is the root cause increasing oil price?”

    1. src50 Says:
      April 23rd, 2008 at 6:01 am

      It is a combination of growing global demand and financial speculation.

    2. Ruth Says:
      April 25th, 2008 at 10:34 am

      Countries at war with one another.

    3. robert w Says:
      April 28th, 2008 at 12:41 pm

      demand exceeds supply. root cause.
      the ‘emerging worlds’ are expanding driving up demand of goods.
      suppliers of oil have NO logical reason to increase supplys.
      some of up costs is from speculation.

    4. pulijalahari Says:
      April 29th, 2008 at 10:25 am

      More demand
      Less suplly
      Columbia going to war with Equador..etc

    5. L J Says:
      May 1st, 2008 at 1:28 pm

      Oil is priced on the American dollar. With the dollar now worth nothing, the price of a barrel goes up and up to make up the difference.

    6. wineboy Says:
      May 2nd, 2008 at 11:34 pm

      An everdwindling supply this happened in texas and alaska as well as the world which is happening now imported much of petroleumbased products like plastics mileage standards on us vehicles have not been raised in the mideast the 20th and india that have not until now imported much oil.