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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (227962)	4/6/2005 1:16:37 AM
From: tejek	Respond to of 1577886

Ted, Because he started an unnecessary war in Iraq. One of the byproducts of that war is high crude prices which translate into high gas prices at the pump. True, but that only supports the notion that the price increase is artificial and not due to any supply-demand imbalance. I knew I should have given more detail. There is a short term shortage due to the war reducing the amt. of Iraqi oil that is getting to the market. In the short term, crude prices have responded by going up. However, there is also the belief that demand/supply are reaching equilibrium. There is an economist quoted in the local paper today who thinks oil will be back under $30/barrel this summer. Normally I wouldn't be quoting an analyst who is playing his or her usual games, but in this case, I'll make an exception. ;-) They've been saying that for nearly two years. It has also been said that back in the last oil crisis in the 1970s, apparently there were pundits predicting that prices would go up forever when in fact, prices fell and the oil industry went into a prolonged depression. That could well happen this time. Then again, there are pundits now who say this time is different. ted