slackening demand as people adjust to higher prices by finding substitutes --fear of a major economic downturn reducing growthWhat is causing oil prices to drop in this economic crisis? you would think it would be rising.?
We are being dooped by the republicans and oil companies. If you have noticed that the price of gas is also starting to rise also, and hurricane ike is over. Oil companies would have you believe that the only refineries the US has are in the Atlantic Ocean so when a hurricane is forming they lie about having to shut down gas production. When in fact there are refineries off of the California coast.
What is causing oil prices to drop in this economic crisis? you would think it would be rising.?
Oh, you would would you....Oil was at 140 a barrel...its really worth 20 bucks a barrel.
You figure it out.
If everyone is going bankrupt...where is the DEMAND...Demand falls, prices fall....simple economics....
Prices were driven up to unbelievable levels primarily by crooked people manipulating the markets...in a year or two, you will see so major arrests and jail terms.
I say it is the oil speculators - who drove up the price - are now selling due to stock prices going down and they don't want to lose $$ - the oil price drop.
less demand due to people driving less and buying more fuel efficent cars.
its also part speculation too.
It's all arbitrary. The price of oil always drops as the summer comes to an end.
remember that someone has to buy it....the more it cost the less I want it.
when the economy slows down you do not need as much oil, right?
wellllllllll it could be dropping cos they are doing some favors for the middle east lol !!!!
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