Price of Oil?

To what degree is the price of Oil tied to the weak dollar vs. the world demand? Also, what motivation does an Oil company have to increase domestic production even if we open up off-shore and Anwar; there seems to be no guarantee they will increase production as opposed to simply sitting on the reserves that would be granted in this scenario?Price of Oil?
The price of oil in other currencies has gone up significantly as well. It is not even mostly related to currency value.


What incentive? The same incentive you would have to dig up gold coins buried in your backyard. They are worth zero to you buried. Trust me, having expended billions to access the oil, they're not going to just let it sit there. Time is money, and if you don't believe that, go out and borrow some.Price of Oil?
The price of oil is directly tied to the value of the dollar and demand.





Think about this...





The less your dollar is worth, the more you must come up with to buy the same amount as when your dollar was worth more.





And, despite recent changes, the Dollar is still the most traded currency.





Supply and demand affects the price of anything. If China, for example, is consuming more of the world supply then there is more of a demand. So price goes up all over the world.





ANWAR is all about money for the oil companies. Period. It is not going to do anything to stabilize oil prices. It's a drop in the bucket. Our demand far exceeds anything that ANWAR could help to stabilize.





Further, ANWAR does nothing to stem the world's demand. And WORLD demand for oil will always effect us, until we are completely self-sufficient in our energy production. That will never happen with oil.





Alternative fuels are the only way to go. Anyone with a brain knows this, despite what the petroleum industry would have us believe.





What we are witnessing now is truly a crisis. This has been going on for very long time, and people have not listened. And realistically, we have not been able to do anything different, given the people that have been in power in this country!





Now, there is going to be no easy way. We will pay the piper on this. Mark my word, this is going to get much worse before it gets any better. I don't think that a lot of us have really come to realize how much we depend on oil, and the depression that we are headed for is going to prove that.





And this has little to do with Iraq, and more to do with the reality that China is now and will continue to compete with us for everything.





Everyone must demand research into alternative fuels immediately! And the only way that we are going to be able to remedy this agonizing addiction is to put people in office who will offer SWEEPING changes for the sake of our future.





I hate to politicize it, but the Republicans have seemed unwilling to make such changes. On the contrary, they have belittled anyone who suggests meager steps. They have proven to be impossible to deal with, and now we cannot play games any more.





This is real.





Every one of you reading this... YOU YOU YOU, people, NEED to get out and vote! You need to write to your representatives and let them know that you are worried.





It's time to do something.
The weaker the US dollar, the more dollars it takes to buy oil, all held equal. With the rising price of oil (due to a lower supply and rising demand) more dollars are needed in addition. Not sure if that answers any of your question.
It is all wrong. But congress has voted it's alright and we can't take out the reserve to change prices.