USA Invasion and Increasing Cost of Oil

[upineter]

I don't know the cost of oil and transportation in my country increase everyday. Maybe the reson is the condition in the middle East. Do you have same condition with your country ?

[Nazreen]

The price of oil has increased for all countries upineter.

Generally speaking, price is usually determined by supply and demand. With less supply and high demand, the higher the price of oil. Every oil-producing country in the world has declining reserves and nobody's discovered a major oil field in more than 40 years. So with decreasing supply and increasing demand for oil, the price of oil has nowhere to go but up.

[Footzilla]

Well I am living in Qatar right now and the petrol is very cheap over here compared to my home country Pakistan. Every month in Pakistan, the price of petrol increases by Rs 1 and sometimes more than that. Glad to see in the price of petrol in Qatar. Nobody cares about the petrol because it's too cheap in this country.

[Fergal]

The price of all based products has increased in Ireland, like everywhere else. However, we have been sheltered to some extent because the value of the Dollar has fallen and oil is priced in Dollars.

[pendelton]

The sad thing is that it is not a true supply and demand that governs the cost of petrol products, but the futures trading that is done in place like the buildings on Wall Street. The minor fluctuations one sees on the weekends is from companies taking advantage of the usually high weekend demands, but that is it.

The demand that the military has put on the system could account for some of the high prices, but not like it is. I remember the pre oil embargo prices at the pumps.... Sadness.

[Nazreen]

By the way, I just noticed it now that the title of this thread is "USA Invasion and Increasing Cost of Oil". People might think that you're implying that the U.S. invasion of Iraq caused the increase in the price of oil. People might also argue that it isn't "U.S. invasion" but "U.S. liberation of Iraq"... I guess it all depends on people's perspective.

[pendelton]

No, it was an invasion. It masquerades as a liberation, but most people know the truth. Bush II saw what daddy's war did and thought it would be fun to do himself.

Then the American public got cowed in to thinking Bush II was all that and re elected him. I guess we are lazy and kind of dim witted too. ;)

[deepak_sharma]

well most of the companies is facing the problem of increasing oil prices.Within 5 to 6years the per barrel cost has increased to 200%. Mostly the developing countries are facing problem with it.

[Fergal]

... Mostly the developing countries are facing problem with it.

It is also a major concern for developed countries. Businesses throughout the world are experiencing huge increases in their cost base as a result of rising oil prices. Obviously this has a direct impact on company profitability.