Why do we depend on foreign oil? and why do we allow the NYSE to determine the price?

I think what you really want to know is ';why are gas prices so high?';. One reason is the weak dollar. That means that the dollar can't buy as much as it used to, so you need more dollars to buy the same stuff, like oil. As oil gets more expensive, almost everything else gets more expensive because it costs more to ship it. When prices go up, that's inflation, which makes the dollar even weaker, and the cycle continues. Another reason is supply and demand. Hundreds of thousands of people in China and India are starting to get their first cars, which drives up the demand for oil. When the demand increases faster than supply, the price rises. There are probably other reasons, but those are the biggest. The solution is to break the addiction to oil and push for hydrogen cars.Why do we depend on foreign oil? and why do we allow the NYSE to determine the price?
Because about 50 years ago we thought we had so much oil so we drilled and drilled and then one day it began to run out so we turned to foreign oil to feed the big american war machine and the millions of cars on US roads today. We don't just get our oil from the middle east, we get it from canada, mexico, and venezuela. Theres also many reason why prices go up. One, China and India have a growing middle class who are getting richer and don't want to ride their bikes to work anymore and decide to buy a car and since both countries have billions of people the demand for oil in those countries will rise. Two, conflicts in the middle east. If Israel decides to attack Iranian nuclear plants, the prices will go way up because Iran is also part of opec and Iran has stated that they will block crucial routes where oil is transported. Basically, the demand for oil is up.Why do we depend on foreign oil? and why do we allow the NYSE to determine the price?
i think OPEC controls the price, but umm we really dont depend on foreign oil, and the oil being foreign has really nothing to do with the prices, it only cost $7 to produce a barrel of oil and they only want to sell it for $32 a barrel, but OPEC is charging us over $130 a barrel b/c they are tryin to get as much money out of oil before an alt. fuel becomes available
I think the answer to this gas crisis is to reduce the price of gas to .99 9/10 per gallon. People would travel more, which generates spending (because you have more money to spend). Americans would buy big American vehicles (We make 'em big) and lots of recreational vehicles...boats, campers, motorcycles, trucks, jet skies, etc.
I believe it is what is called a free market. Since oil is a global resource, failure to make a competitive bid means a country that is willing to bid more will get the commodity.
I don't think they do determine the price.


America depends on it because bush ran public relations and our economy into a truck of hot garbage
We need to drill for more oil.





http://www.americansolutions.com
The NYSE doesn't determine the price...........





google seach commodities/oil. Plenty to be learned.