Do you think the oil companies are ';to blame'; for the international cost of crude oil prices?

No. Supply and Demand.





China, India, European Union and USA economies are rising fast and burning fuel at a much greater pace than new drilling for oil on the world markets.





New alternative energy can not meet or impact this expansion in economic wealth of the world.





We must either increase supply, or lower demand which will lower economic standards worldwide.





Basic Economics: Supply and DemandDo you think the oil companies are ';to blame'; for the international cost of crude oil prices?
Depends on what you mean by the international cost. If you mean the spot market, no they are not.





If you mean for overcharging us for their own reserves based on the spot market price they are responsible for that.





The spot market price is the price that you pay if you do not own any oil and you need to buy some today. That is the over 100 dollar price you hear about, and lately people have been investing in oil like they were beany babies. That is without regard for it value, creating a bubble. It is not related to supply and demand because the supply is at the highest levels it has been in 14 years.





On the other hand, Exxon bought most of thier oil while it was in the ground decades ago for about 5 dollars a barrel, but they charge us the price that it is on the spot market making over $100 a barrel lately in profit.Do you think the oil companies are ';to blame'; for the international cost of crude oil prices?
Nope, they are playing by the rules of our flawed economic system.
OPEC is part of the problem too.





http://incogitoblog.blogspot.com
Well, I know that I don't set those prices. Nor do I have any control over how much crude oil they pump, refine, or stockpile.





Who do you think DOES have control over those things?
Yes
no, they are being blamed for taking in record profits and not investing in alternative energy sources as they promised when they received 12 billion in tax breaks.
yes
Yes, greed!
No


I don't believe in conspiracies until they are exposed.





Gas prices on the otherhand...yes they are, because the pinch in refining capacity in order to squeeze supply nd boost profit has already been exposed..