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Posted by: Gransater 1 year, 7 months ago

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Gransater1 year, 7 months ago

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Demand in India and China.......
I have neigther seen, read or heard about the greatly expanded infrastructure in eigther of two countries to support an increase in demand in fuels, that so would influence the increase in world oil prices.
Also, I haven't seen, heard or read about the incredible increase in wealth that would allow for the increase in vehicle purchase that would sustain the increase in fuel consumption, that would increase the deamnd you are aluding to. The people in those countries may, if lucky, gone from earning 4 bucks a day, to earning 6 bucks a day. Hardly the kind of income that would allow you to go out and buy a vehicle.
The price of oil is currently being affected by futures speculators, using any excuse possible to increase the price. Every time you see a report of disruption in the extraction and or transmission of oil in Nigeria, the market goes up. There are several examples of similar incidents driving up the price.

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