Why have the oil prices risen?
It’s a combination of many things: Increased global demand for oil (China), a weakened US dollar, a stagnating supply, and a little bit of speculation. I ranked them in order of significance. People who blame the US not drilling for oil offshore or in the arctic preserve have a fundamental misunderstanding of how economics and drilling for oil work.
Related Questions
- What frustrates me with the prices of gas, if you look at the actual price of a barrel even if you add in research and new products it still should be under a dollar. Do you think these f_____ tree huggers will ever allow drilling in our own country?
- Why are oil prices always given as cost per barrel, instead of gallon?
- Why have the oil prices risen?
