Was there any doubt that oil would hit $100 dollars a barrel. Is this is simple supply and demand economics ? Hell No!!! This is simple monopoly economics. The demand for oil has not increased that much over the past year.Total global consumption for oil has been steady at 84 million barrels a day Right after the attacks on the world trade center on Sept 11, 2001 the price of oil rose 20% to $26 dollars a barrel. Now who will tell me demand has risen 500%in 5 years ? OH wait a minute we have a Texas oilman as President. Check out this little brief history.
canadianpress.google.com/article/ALeqM5gEdMsa0RgSCRf_pxbZR9mwiyUjfQ
Why in 1911 did we the people ,our government break up Standard Oil or in today's name Exxon. Think about it. Yet now Exxon has merged with Mobil who by coincidence was Standard Oil as well,right after the breakup.To form Exxonmobil.
The Energy Information Adminastration in a 2007 report was still saying oil would be priced at $49 dollars a barrel. WOW could they have been more wrong. See for your self this report to our government.www.eia.doe.gov/oiaf/ieo/oil.html
Well I need to finish this up to get back to politics.
Just some ramblings!
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Boy do I miss Moms cookin
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