Quote:
Originally Posted by pelathais
I read recently that there was a lot of pressure from commodities speculators in the oil market that is responsible for driving up the costs. So though "demand" among consumers and industry may be leveling or even going down in some sectors, the "demand" from speculators can still have a large impact on the price.
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Exactly. And the speculators are expecting prices to go up this year.
$120 a barrel is a real possiblity by the summer .
And of course, as the US Dollar falls in value, the cost will go up too, since it will take more dollars to pay for each barrel of oil.
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