The real value of oil?

@rdurusan (624)
Philippines
October 22, 2007 5:48am CST
Oil produced by the giant oil corporations are the same yesterday,today,till tomorrow.So what?Is it because of the rumor of war which are their own doing,is it because of the monopoly in the use of dollar as the only means of buying and selling oil,or is it true that oil reserves is diminishing,or it is just one of the many lies?
1 response
@uath13 (8227)
• United States
22 Oct 07
The oil reserves are diminishing ( not enough to cause any real effect yet ) however most of the increases in cost is caused by the manipulation of the supply by the oil companies. They know the average level of demand & that it increses around the holidays. Thats not going to change. They also know that by cutting the supply or just saying their going to will cause the per barrel price to rise. They allow people to be outraged for a while then allow the price to slip back down just not as far as it was originally. They allow the consumers to feel relieved for a while even though their paying more per gallon than they had been then they start the whole process all over again. Its all about manipulating the price & their profits.
1 person likes this
@rdurusan (624)
• Philippines
22 Oct 07
I agree,it is manipulation.When OPEC first raise the price of oil in the 70's,that is the time that the petro dollar came.That is already manipulation,because you can use any currency as long as it is stable and strong.