Is the world being Blackmailed by Oil Producers hiking up prices ?

Oil producing Countries are among the richest in the World and yet they are hiking up the prices . Why?


Is it really not greed? If enough of the world around them are unable to pay the prices demanded but really are dependent on this vital Community ,I would'nt be surprised another war breaks out .....and Oil rich regions are taken over .by The world community.Is the world being Blackmailed by Oil Producers hiking up prices ?
I think you need to learn some basic economics. The price of oil is not what oil producing countries say it is, the price of oil is whatever the market price is (i.e. whatever people are willing to pay).


OPEC has not reduced their supply (on the contrary, they increased supply not so long ago), and yet the price has rocketed. Why is this? It's because demand has increased. In what sense is that blackmail?


You seem to be under the delusion that oil producing countries fix the price of oil and then demand that price. This is utter and complete tosh. And yet you think the solution to this will be a war by America to steal other people's oil? Marvellous.Is the world being Blackmailed by Oil Producers hiking up prices ?
Most definitely, but its our own fault. We have enough oil fields in our country to supply our demand for a very long time but due to a govrnentalagancy we approved of called the EPA, we cant go afer it so w have become dependent on foreign oil and thus we must pay their prices til we chnage our laws in our own backyard
If you have read physics professor Albert A. Bartlett speech, then you will find oil price is cheap. You can search YouTube to watch it.





http://www.freeuknetwork.co.uk/Thoughts1鈥?/a>





else read my page, same thing except I didn't mention oil.
Today I heard one analyst speak, he quoted a cost of $1.50 for the Sudanese to pump a barrel of oil, that currently sells for $128.00 a barrel. Capitalism.
this article was of great interest to me:


http://geologyecology.suite101.com/artic鈥?/a>





hope that helps :)
Those countries tend to disregard what the common man wants and as long as Bush is kissing Saudi princes on the cheek, the Big Mid East Oil Boys think they are OK with America.
Supply %26amp; demand it's called captilism!





Or as bush says freedom - take your choice %26amp; pay the money.
As stated above it is what people are willing to pay.





I bet the Middle East would be willing to pay more for grain if they were told it was more expensive....