OPEC blames 'mismanaged' U.S. economy for soaring oil prices

Cant some jack^*&%$%$ see whats going on ???? we are being sh(*&^)!!! on!!!
hey either they get more fuel here to lower costs or guess what the people over there get no food or products from us either.!!!!!!!!!!!!
they soon will get more fuel here.

 

Fuel is the same , quantity is the same !Then why is more expensive ? Becuase the dollar lost value !!!For the same amount of dollars , you buy less quantity of fuel...pretty ease isn't ?!
I don't think the problem why dollar lost value is outside of United States , they should check that within the government which is spending billions & billions in nonsense wars...

 

Absolutely right!

OPEC realizes, even if nobody else wants to admit it, that their supply is *finite*, and the most optimistic estimates have the world oil supply being exhausted in less than 50 years.

In other words, they're looking forward a bit and gouging the customer while they can. In 50 years or less, the money will stop flowing to OPEC, and 5 years after that, they'll be broke and begging us for aid. (do you see any stockpiling and preparations going on? I didn't think so).

Blaming the war and the administration - no matter how fun and seemingly justified - just doesn't cut it.

 

Something to consider $106 in 2007 is equal to about $88 in 2000. (http://www.measuringworth.com/calculators/uscompare/result.php )
This is do to rampant inflation. Although when oil companies post their best ever years during this period it makes them targets for gouging complaints! Stabilizing our economy should be a priority of the president but when he keeps trying to do it the same way that does not work it reminds me of the saying "beating a dead horse".
We don't need lower interest rates, we need a strong dollar. every time the Fed cuts the interest rates it causes a chain reaction that makes the dollar worth less and causes the price of ALL foreign goods to be more expensive. The fact that oil is hitting all time highs is driving the price of gas up, but then why is the gas selling so well? We as a nation need to stop buying gas guzzling cars and look for ways to reduce our demand for oil.
BTW, kicking the ##### out of some foreign nation and taking their oil is a temporary fix. Eventually the oil is gonna run out and there is going to not be any more to take, and all we have done will be for not.

 

Gee, if only we were "kicking the ##### out of some foreign nation and taking their oil", then we wouldn't be seeing $105/barrel for oil. But we aren't, so we still do.

Some interesting posts were made about the value of the dollar and how it relates to the Fed monetary and rate policies. That is where the chief blame lies. Tell the government to stop having the Fed print more money. It's causing inflation and will kill our economy. I hate to say it, but maybe McCain isn't such a bad choice if it means he'll veto all the stupid spending bills....

 

15-20 years ago it was OPEC that was setting oil prices. Now its the speculators on Wall Street that drive up the price. Price changes every day.

All the crap we import from China is driving their economy and that puts additional demand on oil.