Why has the oil prices gone up so high so recently?

China (1.3 Billion people) is the second biggest consumer of oil, and they are just beginning their growth spurt. India (1Billion people) is right behind them. With nearly a third of the worlds population beginning to crave autos and needing manufacturing plants to meet the demand for cheap goods world wide, the demand for oil will only increase.





Supply and demand is the basic rule for economics. With 2.3 Billion people wanting the life style of USA (300 million) and Europe (600 million) oil will continue to be in demand. Supply will not increase enough to meet demand so prices will go up.





I would love to place all the blame on Bush and his cronies but in fairness I cannot. That is not to say that when taking note that oil is traded in dollars and that Bush has decimated the value of the dollar, that he is blameless. The oil prices would have risen with out him. Maybe not as fast or as far. We will never know.Why has the oil prices gone up so high so recently?
Japan = 100 million cars and trucks


India = 500 million cars and trucks


China = 800 million cars and trucks


USA = 200 million (at least) cars and trucks


Europe = 900 million (at least) cars and trucks


South America = 500 million cars and trucks





ALSO:





Affluent communities around the world consume 33% of a day's oil supply.





THERE'S WHERE IT'S ALL GOING!





To lower the cost we need to lower the demand.Why has the oil prices gone up so high so recently?
well many people are blaming it on president bush when in all actuality it was probably Al Gores fault for he does own about $500,000 in Occidental stock. So frankly hes probably happy. Plus it is probably the oil companies fault. After all there hasn't been a hurricane or anything neer oil production since about 2008
Well, the oil prices might go up and it might come down a bit, only to go further up again. So it is a normal process, and it wud continue to rise. So I dont think any major external contributions to this fact.
It's in preparation of Memorial Weekend.





Traditionally that's the start of the summer travel season with people driving more.





Gas prices normally spike around then even when things are going well because higher demand means people will pay higher prices.
The oil companies are trying to raise a little extra money so they can contribute to the upcoming presidential campaign, so they felt the slight increase at the pump would not be noticed and would do so much good.
The current hike in prices is mostly happening due to inflation. Gold is high/dollar is low=signs of inflation.
Because the oil giants execs do not give a fk about anybody but themselves getting filthy rich and breaking the common man.





I hope it blows up in their greedy faces.
There are many reasons, perhaps the most prevalent is that the people of the world are perfectly willing to pay the price.
It's our own fault, and also the Democrats. They won't let us drill in our own country for oil. Now we need to find new sources of energy.
Iraq.
Its basic economics!!! George Bush's daughter just got married. Who do you think paid for the wedding? DUH...
Because we are running out of rice.
Ask the Oil men in Washington.