Oil hits $50 as storms, global tension drive price
As the tropical storms (such as Ivan) and endless fighting prevail, the US and other countries continue to suffer from higher cost of oil. Such chaos is making it hard to deliver goods in high demand. There are concerns regarding the security of suppliers in areas such as Saudia Arabia and Iraq because of rebel fighting and sabotage of equipment. Many of the available resources have either been destroyed or severely damaged. The effects of several recent tropical storms are also helping to boost prices. Hurricane Ivan has helped to slow the production of crude which leads the inability to meet the demand.
10 Comments:
At 9:22 AM, Jennifer said…
I am ready for the crude oil to be produced better and easier as well I live in a small town and gas has already jumped up to 1.95 for regular gas. Its horrible!
At 5:06 PM, laboz00 said…
I believe that we the United States should concentrate on other methods of powering the automotive industry. As long as other countries hold the key to a vital part of our lifeline, we will always be pleaded with situations such as this.
At 5:09 PM, laboz00 said…
This post has been removed by the author.
At 5:30 PM, Stressed said…
The recent events seem to have opened the eyes of many U.S. citizens on what is going on in this world. The war in Iraq has definitely hurt this country when it comes to the price of oil. We need to figure out a way to not be so dependent on other countries to provide this for us.
At 4:08 PM, kylee45 said…
I appreciate the beauty of nature as much as the next person, but feel we should do more to provide for ourselves as an oil-consuming nation. We know that there are great oil assets in Alaska and our government should pursue the harvesting of oil. I am confident that we can harvest the oil and protect the environment at the same time. We need to become less dependent on other nations that have the power decrease supply thereby raising the price we pay at the gas pump.
At 11:34 AM, eagle13 said…
I agree that we should be less dependent on other nations when it comes to oil production. What I don't believe is that the government has the ability or the concern about protecting the enviornment. Alaska is an untapped resource but it is also the "last frontier". The people who live off the land won't have the ability once we start drilling for oil and having serious spills. Just being in the area would cause a change in many animal enviornment. There has to be a better way to run this country's automobiles.
At 3:55 PM, Mel1293 said…
I also agree that the United States is too dependent on other nations for our oil supply. It doesn't help that terrorists are burning oil.
At 3:59 PM, erin said…
Ivan also had effects on the produce market. While eating at a restaurant not too long ago, I could not get tomatoes on my sandwich due to the 3 hurricanes. So, the oil market is not the only market effected.
At 6:39 PM, priestdarko1 said…
I think the US depending on foreign oil is pretty damn smart. We know we have all these reserves in Alaska right? Well, that means we are using up all the foreign oil and their oil reserves. So, eventually when there is no more oil abroad we will be able to tap into our own resources and possibly export to them (at an outrageous price of course). I just think it’s another way to look at things. Use up everyone else's oil before we tap into our own. I think it’s kinda funny if you don't think about it too hard.
At 11:23 AM, serderick jennings said…
This has been a trying year when the concern deals with oil prices. Along with this waar and recently the 4 major hurricans that has hit the Gulf of Mexico consumers have suffered. But with strong leadership(not Bush) the oil prices should lower with time.
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