http://www.fueleconomy.gov/feg/gasprices/FAQ.shtml#High http://www.realcities.com/mld/krwashington/12418111.htm
Q. Why did oil prices rise so fast? A. The price of crude oil jumped dramatically in recent weeks in part because of heightened fears of shortages. Oil traders are particularly nervous about forecasts of a busier than usual hurricane season. Hurricanes disrupt deliveries by oil tankers and can halt production at offshore rigs in the Gulf of Mexico. They also threaten refineries on the U.S. Gulf Coast. Other factors included temporary shutdowns at some U.S. refineries and U.S. government warnings of possible terrorist attacks in Saudi Arabia, the world's biggest oil producer. Q. Aren't oil cartels to blame for the high prices? A. Today's high prices are driven by demand, not supplier-imposed shortages as in the 1970s and `80s. The Organization of Petroleum Exporting Countries says its members are pumping oil at almost full throttle and that developed nations should build more refineries. Refineries are working at near capacity and can't keep pace. -Gary Chris Reeves said the following on 8/18/2005 5:38 PM: >Here are the reasons in order: > >Death of Saudi Arabian royalty. >Fire in a second tier refinery in Illinois.. > >Which has mostly led to rampant stock market speculation which continues to >drive the crude oil price up, up, up. A lot of what is driving it up is >sheer speculation of the markets, not much else. > >CW > >-----Original Message----- >From: [EMAIL PROTECTED] >[mailto:[EMAIL PROTECTED] On Behalf Of joeuser >Sent: Thursday, August 18, 2005 5:34 PM >To: The Hardware List >Subject: Re: [H] Gas prices > >So what's the reason for this increase now? Someone has to be saying >something. I don't watch the news because I don't want to get put on >Wellbutrin or other widespread happy pills / anti-depressants. > > > >
