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The declining dollar. Oil is relatively cheaper in other currencies, like the Euro, Yen, or Pound. Hell, it's even cheaper in currencies like the Thai Baht or Philippine Peso that have also gained value against the US dollar.
Development in China and India (primarily, other countries involved too) helped push up worldwide demand, and Russia has clamped down on production and distribution via Gazprom taking over the privately held oil and gas exploration and transportation companies.
Bush? The Congress? Bin Laden? The mortgage meltdown?
Bush didnt help but the problem started way before him.
1) Environmentalists who wont let us look for more fuel
2) Clinton who campaigned to OPEC that they should raise prices and lower supply
3) Congress for raising taxes
4) Federal Reserve for making cash to easy to get for to long, which lowered the value of the dollar
5) Iraq war
6) Katrina
7) OPEC of course who listened to Clinton
8) Speculators on Wal-Street
9) and finally Bush who has done nothing to fend off the high cost of oil.
Bush didnt help but the problem started way before him.
1) Environmentalists who wont let us look for more fuel
2) Clinton who campaigned to OPEC that they should raise prices and lower supply
3) Congress for raising taxes
4) Federal Reserve for making cash to easy to get for to long, which lowered the value of the dollar
5) Iraq war
6) Katrina
7) OPEC of course who listened to Clinton
8) Speculators on Wal-Street
9) and finally Bush who has done nothing to fend off the high cost of oil.
Good list. However, you forgot to add oil thirsty people in large SUV's.
Thats right, thats why England pays $8 a gallon... they all drive SUVs over there... as well as all other countries... they drive more SUVs than the U.S.
Good list. However, you forgot to add oil thirsty people in large SUV's.
Before you edited your original post that just said "Good List", I thought you were a reasonable person... then you had to to throw that terrible, unfounded cliche in there... tsk tsk.
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