Why the price of crude oil (for gas) goes so up and up?
554076
Just so you have facts. Clinton allowed the 5 major oil companies to buy up all the smaller (not quite a monopoly which is against our laws) Yes he knew why they wanted too. These 5 companies can now set the price and there is enough for all to make big profits. One of the claims they say is they are doing this in case of further shortages (baloney).  This is not silly putty (which no one must have) and the government should be able to have some control on peoples needs (remember our heating depends on this yet alone work needs and hospitals need heat and Police and Firemen need to be able to have fuel to get around). We are stilling getting the same amount of oil as the last couple years -we are using a bit (not much) less-so it isn't a shortage (yet).) Because these 5 major companies have a lot of money they also control some in government (yep-favors another story) . So it seems they can do what they want-they only have to answer to shareholders (be surprise who some of them are). Until the People or Media turns on them they have upper hand. Just thought I would give basics to you.
722705
My guess is that the price of gas keeps going up because we are still willing to pay it..  even though we should all just buy bicyles.  Second hand ones can't be more than $100.  Probably not that much.  Anyways, we need the gas so we pay high prices for it.  Sort of like food.  We need it, so we pay whatever the supplier says the price should be.  Here's a thought,  how about all of us who b*tch about the price of gas, go get on welfare so we can afford to buy the gas. Hey it might happen.   Just insist that you are mentally unstable.  Which of course, has to be true because society totally sucks.
1156447
It is a commodity like oil.  The price is determined by the market (supply and demand).
1142097
There are a bunch of factors. Disruptions of oil in Nigeria, The iraq war, the Iran stand off with the world (In particular the US), increasing demand of oil in the world ( in particular China and India), and other minor factors. \nIts a simple economic thing, the more people demand, prices go up. As China and India start developing, they need more and more fuel to function, they demand more, in fact look at their population, china and india make 1/3 of the worlds population. This demand drives the price up. Iraq war, is anothe rmajor factor. Everytime, US and Iran have a heated battle of words, prices will go up, speculations make prices go up. Analysts predict prices will go up, hope this helpls
619468
Every time anything happens oil prices go crazy... the world's industry runs on oil, so changes, even minor ones, can have a large impact on all world economies...
372469
Lets see, the oil company's own and operate the wells, then the some people that work for them bid on the oil and it is sold to the refinery's which by the way is owned by the oil company's which in turn ship it to the gas stations guess who owns them. Sweet deal huh. I really wonder why the prices are so high.
595280
My economic knowledge tells me that I hope it goes up up up. My company pays for my gas, and as a resident of Alberta, Canada I stand to share in the wealth that the province brings in from oil revenue royalties. My family got a check for $1600 this last time, but with the current (and rising) oil prices the next one could be much higher. \n\nMaybe people will stop buying stupid SUVs too. I just bought a Honda Civic and it gets great milage. \n\nIf the USA continues to try and clense the world of anti-western democracy govenments (Iran, N. Korea etc.) this trend will continue. If faith in the US dollar doesn't improve, people will continue to invest in commodities like Gold, Silver, and Oil, thus driving the prices up.
19084
It's a comodity that's traded on a comodities market. Supply and demand determine the price each month which is why it goes up and down.
506424
Gas prices are going up everywhere for a variety of reasons, not all of which are "greedy oil companies." But I won't go into that.\n\nBecause of the mild winter we've just experienced, there is quite a bit of oil supply right now. I think prices will drop soon.\n\nBest of success.
1048854
As you know, the cost of crude refineries pay is set across the board globally. Which in turn they charge the same price. It is mainly these franchise gas station compnaies that change the price, who are told to change the price as the market flucuates. Which in turn the station across the street wants to stay competitive by adjusting their price accordingly, up or down. It's all about the supply and demand now. The United States uses approx. 84 million barrels a day, when our supply is just 85 million.\nAnyway, here is a good couple vids to watch.
873620
If they release oil reserves every time the price rises a little it will go down, but we will pay for it dearly when the oil producing countries see that our reserves are getting low. Six years ago our reserves were at an all time low. We held our own for a while but eventually the suppliers realized we didn't have backup and that's how we reached the all time high prices. Several months ago the reserves were in the ninety percent range and that is when it finally started dropping. If they do use the reserves properly gas prices will remain stable. If it does drop dramatically look out we will pay for it later.
507433
Oil prices are set by the market.  In other words, if people are willing to spend $72.00 a barrel, then why would oil companies charge less.  The market corrects itself.  If the prices are too high, people will purchase less oil.  If the prices are too low, the miniscule profit margin that the oil companies already face will diminish.  That is why we pay what we pay.  It is what it is WORTH to buyers.  Simple as that.  If you want lower gas prices, take the bus for a while and wait until the market decides that oil is not worth as much anymore.
368718
Some of the prices are artificially inflated. \n\nHowever, gas prices in the US are still lower than in most countries. Go to Germany or England and pay the equivilant we pay per gallon for a liter. \n\nI do think that many of the companies are taking advantage of teh recoupment of defense oil reserves and the war against terror in order to boost their profits.\n\nOn a final note, though, the war in Iraq was not about oil. If it were, we would be getting oil from Iraq. We are not, yet at least. Much of what excess Iraq is producing is going towards paying their reparations to many countries.
348889
supposedly it's because of "weapons of mass destruction." but we all know it's because of the oil. the shitty part is now bush has had us over there 3 years, and the fuckin gas prices are still pushing $3 and probably $4 in summer.
384404
Definitely huge profits by big oil are the main reason for high gas prices no matter what lies big oil tells us to the contrary
581781
There is NOT a supply shortage. Even OPEC and Saudi Arabia are saying there's no shortage. They are saying the gas prices should not be anywhere near as high as they are. What's raising the cost is that oil companies are gouging everyone because they basically have a collective monopoly, even though they're supposed to be in competition with each other. That's why oil companies keep scoring record profits each year while average Americans are getting poorer.
690244
Gas prices are rising due to the rise in the price of crude oil.\n\nThe price of West Texas Light Crude rose to over $70 a barrel on the international market, although it has now fallen to $69.63. The price of Light Crude tends to be higher than other Crude Oil prices because it contains less sulphur. This reduces the refining costs involved with making petrol that conforms to the environmental standards in the US and Europe.\n\nAlthough OPEC and other Oil producing countries have increased production of oil, the demand is outstripping the supply.\n\nThe economy in China is growing fast and as the masses enjoy more disposable income, they buy cars which in turn require more oil.\n\nThe Indian economy is also getting stronger and they too are buying more oil.\n\nA further complication that adds to the demand is the lack of refineries. The efficient refineries are operating at almost full capacity which means that less efficient plants are being pressed into service. The problems in obtaining refined product places further pressure on demand side prices.\n\nOn the supply side, there are political uncertainties in a number of big oil producing countries. Such uncertainties cause problems within the supply chain and cause prices to increase.\n\nOPEC cannot produce enough extra oil to satisfy the extra demand.\n\nIn the past, Russia could be relied upon to pump extra oil. However, Russia is busily re-nationalising Oil Production (e.g. The recent Yukos case). This means that Oil production in Russia has fallen away from 2004 levels. Although Russia has huge reserves, it will be a while before production starts to grow again and so they cannot be relied upon to meet the extra demand. \n\nVenezuela is having a little spat with US Oil companies. Go Venezuela! Unfortunately, this is also effecting supply. \n\nNigeria, well is Nigeria. However, the locals are not happy with the way that oil companies operate and have taken to protesting over the way their land is being poluted. Local bandits and industrial unrest all combine to threaten oil supply.\n\nThen there is Iran which is in dispute with the west over Uranium enrichment.\n\nWhenever demand outstrips supply, speculators get involved. The US leads the way in commodity speculation. With continual upward pressure on the price of oil, speculators are having a field day.\n\nThe complication that the US has brought to speculation factor is the invention of 'virtual speculation'. These are speculators who speculate on the commodity speculators. This in turn causes prices to fluctuate more wildly and pushes prices even higher in a rising market or lower in a falling market.\n\nThe only way to improve the situation would be to either increase supply or reduce demand.\n\nIncreasing supply will take many years to be effective.\n\nTherefore the only way to reduce prices is to reduce demand. So, if everyone used less fuel the prices would fall.\n\nTime to dust off your old pedal cycle?