Oil prices pass $132 after government reports supply drop?

http://news.yahoo.com/s/ap/20080521/ap_on_bi_ge/oil_prices





So Bush met with the Saudi's last week asking for help on this, and they said they didn't see ANY NEED to raise production


as they met demand quite nicely.





So what the heck is going on we're getting SO SCREWEDOil prices pass $132 after government reports supply drop?
We are going to get screwed the most before Bush gets out of office... his friends and family network needs to make money before there is a checks and balances brought in to see just how corrupt the Bush administration is.





Meanwhile the top5 oil producers in USA made 36 billion in profit the first 3 months of the year.Oil prices pass $132 after government reports supply drop?
Im a dumby when it comes to economics, but I am going to use some commen sense to put 1 and 2 together. The oil company keeps stressing ';supply and demand'; ok well since the US has cut back on gas consumption due to high gas prices, what incentives give any oil refinery to refine more oil if the demand for it is low. Of course there is going to be a supply drop, because people are using less so there isnt any incentive to create more of a product that yeah we do need, but getting to costly to afford. Even if the reports indicated there was a increase in supply, those bastards in the market will just ignore it like they did a couple of weeks ago and find some dumb excuse to continue jacking up the price. Like i said i dont know much about this area, but this is how i am seeing it.
Yes, oil prices are high, but our economy is very weak at the moment. Cheaper oil would benefit individuals nationwide, yet the hole careless Americans placed themselves in with credit card debt and poor mortgage decisions is a factor many people are overlooking. This is a problem that slowly built up over time, and now the dollar is weak.





Drive slower, maintain your car, that's all you can do for now, especially since we are entering the big driving season.





Our main goal should be investing in alternative energy and getting new technologies approved for the general market.
Well..im not from the US or an economist but prices go up=inflation=depression of the stock market. Dollar gets weaker and weaker. US currency and finacial power goes down.
Memorial Day will show how much of a gas problem we have.. The roads will be filled with people going no place sucking down the gas.
BP, Shell, Exxon, etc