Should current crude oil prices really be that high?

While acknowledging that current oil reserves worldwide are continuously being depleted, it seems to me that oil prices are now being governed not by supply and demand issues, but are being fuelled ( pun intended) by artificial worries based on "What if" scenarios, none of which have actually happened. Are we then just being taken for a ride by oil companies?

5 Responses to “Should current crude oil prices really be that high?”

  1. jennifer p Says:

    I love this question, because there are other sources of fuel besides oil and we could use them if we really wanted or needed to. As long as there is still anykind of demand and people are willing to pay the outrageous prices the will keep charging, crazy amounts of money, but your also right by the fact that its dpleting so eventually it wont really matter, maybe thats the real reason they are charging so much their squeezing all they can out of what they’ve got left.

  2. Beeg Juan Says:

    Given that the chinese are willing to pay it, and the US currency is no longer the standard, yes.

  3. qman Says:

    It’s Bush making them Texas boys rich

  4. instantdegrees_scam Says:

    About a year ago someone in OPEC said maximum price of oil is $42 bbl.

    Elsewhere relating to real cost to extract and deliver it, its price should be $25.

    Do not be surprise if it returns to this level in a few years. Remember only last year it dropped to $55 a barrel. And OPEC reduced output intentionally to curb the fall. Bummer.

  5. abenezerscroogexxx Says:

    according to the saudi energy minister they are a bargain.