China and other rapidly growingcountries be using more, or will use moreresources, but the reality is that demand andsupply havent changed enough to warrant theprice of oil doubling in less than threeyears. The waytraders push up prices is surprisinglysimple. Contract volumein the futures markets has risen by thirdin just the last year. Everyone rolledtheir sleeves to chip in and Americansproduced an enormous amount of hardware forthe war effort. In life we must always live in hope. permalink jaydraiman says Can the energy crises be overcome? sayyes!
As far as the market isconcerned, the demand for barrel that results from thepurchase of futures contract by refineror other user of petroleum.
Everyone rolledtheir sleeves to chip in and Americansproduced an enormous amount of hardware forthe war effort. In President Kennedychallenged us to send man to the moonwithin decade and launched the Apollo planto make it happen. Althoughdemand has significantly increased over thepast few years, so have supplies. Over the past couple of years global crudeoil production has increased along with theincreases in demand in fact, during thisperiod global supplies have exceeded demand,according to the US Department of Energy. The waytraders push up prices is surprisinglysimple.
refiner willpurchase extra oil even if it costs135 per barrel, if the futures price is evenhigher. As result, over the past two years crudeoil inventories have been steadily growing,resulting in US crude oil inventories thatare higher than at any time in theprevious eight years. we need similarvisionan Apollo initiative for energyindependence, mobilizing science andtechnology and investing in energy efficiencyand alternative energy. The benefits are immense. didntadapt quickly enough to the energy problem inthis country not ready with theright kind of cars.Any big corporation that is too bureaucraticand cumbersome to quickly react to changingmarket conditions is doomed to failure.
That drives up of this additionalinvestment has not come from producers orconsumers of these commodities, but fromspeculators seeking to take advantage ofthese price changes. Weurgently need to stop subsidizing dirtyfossil fuels and start investing in cleanenergy economy. I see solution within 36months.If we as nation can really appreciate andunderstand the severity and enormity of theenergy crises, the catastrophic impact on oureconomic stability and civilization,we must unite and do whatever is necessaryto produce other forms of energy and overcomethis energy and economic crises by puttingall politics and egos aside and look for thegood of our nation.
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