price of oil

Why would our Energy Secretary say there's a supply and demand problem when none exists? Why would he say that speculators have little or nothing to do with the incredibly high price of oil and gasoline, when it's clear they do?

President Bush-a former oilman-gives the ever-growi …

Investors already disheartened about the growing problems of the financial sector and the soaring price of oil are facing more depressing news with the release of second-quarter earnings reports.

Since 2003, worldwide oil prices have quadrupled. According to a new study, the price of oil is rising at a faster-than-exponential rate, and cannot be sustained.

In other words, we’re in the midst of an oil bubble, say researchers. The recent oil price run-up has less to do with supply-demand interplay and more to do with speculation.

The Associated Press 15 comments An activists throws plastic bags with red paint as they pelt the main office of Petron oil company...

An activists throws plastic bags with red paint as they pelt the main ...

All those speculators getting the blame for driving up the price of oil these days — just who are they? For part of the answer, look in the mirror.

The focus on the commodity, the barrel of oil, neglects the currency that denominates that commodity, the dollar.

The best way to lower the price of oil is to restore confidence in the value of the eroding dollar.

How much of what is happening with the price of oil is a result of speculation and how much is generated by the interplay of supply and demand?

That is the question of the day for energy geeks -- whether they be economists, regulators, industrial consumers, gas station customers or bloggers.

Drivers are paying an average of $4 for a gallon of gasoline for the first time. AAA and the Oil Price Information Service say the national average price for a gallon of regular gas rose to $4.005 overnight from $3.988.

But consumers in many parts of the country have already been paying well above that price for some time.

Gas is expected to keep climbing, putting greater pressure on consumers and businesses, because the price of oil is soaring in futures markets.

Light, sweet crude shot up nearly $11 a barrel Friday and approached $140 for the first time.

The future of gas prices is on everyone's minds. But does OPEC, gas companies really control the prices at the pump?

No, not really. What is little known is the loophole in oil futures trading sectors in which the likes of Goldman Sachs are driving the price of oil.

Why do we blame China and the Far East for the economic problems we are having in the world today. We know the price of oil is bid up in a kind of auction called the NYMEX.

This can be stopped by placing limits on how high the price can go.