WTI CRUDE FUTURE (USD/bbl.) 83.610 +1.24

[Subdivisions]

That's not "cheap" oil. Which is not good since our civilization was developed based on "cheap" oil.

[uponit7771]

1. Speculators are raising the per barrol price of oil again.

Yes, these people are sons of Satan and smell of solphur but there's little Obama can do about them right now due to international price dependencies (my analysis)...3-4 dollar a gallon gas is coming before Nov thanks to these bastards.

[Subdivisions]

2. Really? I agree, somewhat. So, tell me about production. n/t

[uponit7771]

3. Of what? Gas? The oil companies lowered that late 2008 and it hasn't gone up much. They're back to..

...the pre collapse tricks of using up wet transports to store oil etc.

The law on speculation was changed in the early 90s to allow speculators to buy more than what's available.

[LiberalLoner]

4. I think you are right, at least 3 dollar a gallon gas anyhow. n/t

[FarCenter]

5. The price is going up because demand outside the US is going up

The US, with 5% of world's population, will not be able to afford to consume 20% of the world's oil production in the future.

So we either have to cut back consumption dramatically, or we have to find domestic sources of oil.