Reply #8: They use it as an excuse [View All]

[DrGonzoLives]

What it costs to pump and ship oil does not really change all that much - it's not like there is a Terrorist Navy sinking oil tankers, and the only oil fields vulnerable to terrorists are in Iraq, and we have those secured quite well at the moment (wonder why?).

So, then, the only reason to jack up the futures price of oil is to claim that the "fear of instability in the Middle East" is doing it, when, in fact, the cost of doing business has not yet changed. You can argue that Bush has reated an atmosphere where this is easily claimed and believed, and you'd be right, but the truth is that oil really should cost about the same as it did a year ago (after Katrina, which did legitimately cause oil prices to rise).

It's completely artificial, and that's why it can't be sustained.