Is it only due to speculation?
Do you really think that all the experts disagree,
and none of them really know the reason ?
The oil companies are "testing us"
to see the point that demand drops off.
(and that is about $4.00 a gallon)
You see, the oil companies see the writing on the wall.
GW Bush gave them what they wanted long enough,
but they dont trust Obama to play their game.
Obama, or even to some extent McCain would put federal $ toward getting us off of foreign oil
(by way of alternatives + green energy)
So, the oil companies will be loosing money in the next 10 years from the USA
(China and India will STILL be using a lot)
Reason # 2
LAND GRAB !
The oil companies knew EXACTLY what the republicans would do,
and are playing them like a fiddle.
Big Oil are trying to get MORE land off the coast of the US,
even though they arent using what they have now.
(much of that has NEVER even been explored!)
The REPUGS have fallen right into their hands (AGAIN??)
I beleive that these are the same people who made money after 9/11
On airline stocks.
I think if we find out what companies these are that are driving up the price,
we will see that it IS the oil companies, but not for the reason it may seem.
I think the oil companies are falsely driving up the price,
not only by raising the price, but also by speculation.
False assumption #1
That speculators will lower the price once we open ANWR and offshore drilling.
Speculators KNOW that it would take years before we see any REAL oil come from this,
and they dont change the numbers on something 5 years out.
Now, once that oil is a few months from hitting the market, it may change a small bit.