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Brain -> RE: $4-$5 gallon gas on the way/Gas prices up 28 cents in 10 days! (3/8/2011 8:34:56 PM)
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I'm sure somebody mentioned it somewhere in the thread but in case anybody hasn't prices have gone up because of the speculators on Wall Street. It's the same garbage that was going on with George W. Bush during his presidency. Actually I heard today there is a bill in the House to address the speculation but as usual the Republicans are blocking it.
quote:
ORIGINAL: jlf1961
Oil prices have gone up in response to the problems in Libya. Saudi Arabia has increased production to meet the shortfall caused by the problems in Libya.
Gas prices have gone up because the 3% of total US imports comes from Libya, and Saudi Arabia has increased production to meet that shortfall.
A perceived possible shortage of oil imports from Libya raised the price per barrel of oil.
Now, the question is:
If Saudi Arabia has increased production to cover the shortage, WHY THE FUCK HAS PRICES GONE UP?
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