Why has the price of oil increased so much and what should the governments do about it?

Just doing some research on this and wondering if anyone had any advice for websites or opinions on this question. Thank you

6 Responses to “Why has the price of oil increased so much and what should the governments do about it?”

  1. kim t Says:

    Back in the early 70’s when there was a gas war going on, the government again choose to do nothing about this problem, fast forward to 2008, gee did the government wake up, not they want to get richer.

  2. wealth hunter Says:

    high oil price changed the way people drive around the world by making people dirve less, driving more feul efficient cars and not drive at all. THESE HELPED US REDUCING OUR CARBON FOOT PRINT!!!!!!!!!

  3. Fiat Lux ad Sententia Says:

    Its called hyper inflation caused by a weak US economy. A 360% rise in 8 years with the US dollar dropping 33% against the Canadian dollar at the same time. If prices keep going up in this kind of trend and it causes too many problems, the govt will have to peg the price.

  4. cbjack Says:

    Do some real research on prices. You will see that gasoline has gone up about the same as everything else over the years.

    Governments have no control over oil prices. They can only make things much worse. And they probably will.

  5. Checks B Says:

    Half of our money paid at pump goes to Wall Street speculators. And we can not hear or read main media reporting them. We are kept in the dark

    “Testifying to the House Energy and Commerce Committee, Michael Masters of Masters Capital Management said that the price of oil would quickly drop closer to its marginal cost of around $65 to $75 a barrel, about half the current $135.”

    http://www.marketwatch.com/news/story/gas-could-fall-2-if/story.aspx?guid=%7B2673C102-68E0-41D9-9C9A-10EE2E723948%7D&dist=msr_13

  6. Sachs G Says:

    I am playing big on oil trading. I’m from Morgan Stanly, or Goldman & Sachs, or any big firms on the Wall Street.

    I bought millions and millions of barrels of oil when they cost $60–$100 a barrel. I expect to make a kill when I sell. But right now it’s only $135 a barrel. (Please tell nobody: one day on Jan. Goldman & Sachs traded a volume of barrels = US one years import in volume)

    So here is my difficulty:

    Congress is now investigating on oil speculation, I am afraid of being caught. But if I sell them right now, I would end up with little or no profit since the trading fees and hedge fund managing cost are not cheap.

    I already request my agents send the spin out to the media, like: “Oil future looks high, expecting to be in the range of $200 a barrel soon. ” But it does not work price up as fast as I expected.

    So my question is this: How do I corner the market price up in time so not to get caught by Congress.?

    For your info: Prof. Michael Greenberger’s testimony before Senate makes me very nervous. He said: ‘If speculation were reined in and trading rules tightened, the cost of crude oil could drop 25 percent.” http://www.mcclatchydc.com/staff/les_blumenthal/story/39611.html

    My lobby firm can work Republican party to stall passing the laws, but I am not sure for how long. I am very fearful and worried. What are the options for me ? Please advise.