Quote:
Originally Posted by tompaah7503
Demand continues to increase while supplies have flatted-out since 2005.
Meaning people wanting the oil are bidding it up higher, just like at auctions, because they want it that bad.
I don't see any outright nationwide oil shortages coming, prices will take care of that. OTOH what you already are seeing in the western world is oil consumption decrease (demand destruction).
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There is NO Supply and Demand problems. It is speculation alone. Demand has stayed the same.
This entire problem is media related. There may be some price gouging, but I'm not sure.