The Real Shiz

Oil is up once again at 91.45.  We are at inflation unadjusted new all time highs in the black slimy stuff.  Unfortunately it looks poised to continue higher and higher.

So the question is why is oil higher?  Several reasons not the least of which are.

-War in the Middle East=higher oil prices

-Rising global demand such as Brazil, Russia, India, and China (aka the BRIC’s) are using way way way more oil than before.

-Lack of exploration.  Yes, we are exploring but not enough to keep up with new demand.

-Awesome groups like Greenpeace.  If you want cheaper oil let us explore out in the middle of nowhere.  Groups like them make it so we can not drill where there is new oil.

That is but a small number of the reasons we have higher oil virtually every day.  2001 oil+$18 a barrel.  2007 oil =$91.56

Happy Driving