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User 163984
1 Comment
$200 Oil Is a Very Real Possibility [view article]
So the fact that conventional oil has not increased in over 3 years and is in decline, has nothing to do with the increase in price, it's just a bubble ready to burst... whatever. And no, demand worldwide did not drop, it increased by around 2% last year.One of the reasons for the oil price increase, besides peaking of oil production, is due to positive feedback loop regarding inflation. High oil prices that began several years ago caused the price of just about everything to go up (inflation). When inflation rises it causes the dollar to drop in value hence causing the price of oil to go up which in turn causes the price of oil to increase, so on and so on. Mar 14 09:31 PM