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Originally Posted by Butterfly  ^^ nice demand and supply curve, that's a nobel prize for you 
jump higher boy, |
Do you realise how stupid you sound by your pathetic comments against anyone who disagrees with you?
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Originally Posted by Butterfly Quote: |
Fatih Birol, chief economist of the International Energy Agency said in October 2007 that oil prices will remain high for the foreseeable future due to rapid increases in demand from the rapidly growing economies of India and China.[14] This does not quite align with the fact that prices started climbing in 2003, when no special event took place in either country, but when Iraq was invaded. Then prices doubled again between 2006 and 2008, this time due to speculation, when US trading was allowed to take place through the US-owned ICE Futures exchange in London rather than the NYMEX, thereby escaping US regulatory requirements. | |
Quoting the EIA now, before you dismissed them as 'loonies', remember that?
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Originally Posted by Butterfly Price of petroleum - Wikipedia, the free encyclopedia
Recent speculation regulations have been put in place, would that explain the recent decline in oil price ? probably, and that reinforce the idea that current oil price is determined primarily by speculators. China and India got plenty of oil. No shortage on that end. |
Yep, use of Wikipedia is about your limit!