Quote:
Originally Posted by jimmycooper
You guys are foolish conspiracy kooks. Wall Street does not set the price of anything, let alone oil. The markets do and high oil prices can simply explained by the laws of supply and demand, just like pretty much everything else.
China and India are industrializing countries with combined population of something like 2.7 billion people and they will continue to demand more and more of what is a limited resource, so get used to the high prices.
http://www.bloomberg.com/news/2010-0...er-cities.html |
So what happened when financing dried up back in 2008-2009? How come oil went from $150/barrel to $38/barrel? The world demand never changed, only the supply of cheap money?
Since you seem to have some grasp on the subject I'm interested in your answer.