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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (206744)10/16/2004 3:38:24 AM
From: Elroy  Read Replies (2) of 1573124
 
It has to do with worldwide demand which increases each and every month.

1+ billion Chinese and 1 billion Indians entering the world economy more and more every day = oil is going to go up in price for years.

The Iraq situation is just a headline that helps the buyers pay more. The increasing demand against finite supply scenario is what is pushing the oil price up.

The poor Saudis don't mind. And I would imagine every $1 per barrel increase makes them less and less inclined to reform their oppressive social system....
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