drywall and cement have shot up because of the Chinese demand. Bush haters like to blamePresident Bush. But remember, oil has risen in price under every single president. Ourpopulation growth has shot up over 50 million since 1980. That's a lot more houses builtand cars being driven, so the demand is much more than 2 decades ago. Sure oil companiestook advantage of us and charged a bit more in 2005, making record profits, that's calledcapitalism dudes, instead of complaining about their record profits, buy their stock and joinin on the profit. You sell your camera on eBay and it bids way up because the demand isthere to support it. Is that someone's fault? Does that mean you are a greedy cameraseller? But think about this, oil companies would not have had a leg to stand on with pricingif the demand for fuel from you and I were not so great. We all drive around in gas guzzlingSUVs. We are treading water, like salmon going upstream, with respect to our oilconsumption versus production. We consume many multiples of oil now compared to 1976,yet that was the last year we built a refinery in the United States.Every time someone tries to build a refinery, some special interest group blocks it in courtand wins. OPEC countries have refineries and drilling rigs all over the place, and they are allrich and happy. We are not allowed to build any more refineries which would increase ourown oil supply and lower the price, so, so we are not rich and happy, we are paying morefor oil, and funding our own demise. OPEC has their boot on our throat, and gee, isn't Iranpart of OPEC? Great, so that means that while we are pumping gas into our tanks, we arealso funding future terrorist attacks. We need to not only reduce our oil consumption, butswitch modes to power sources other than oil to eliminate our dependency on othercountries. Hybrid cars are starting points, not as efficient as we'd like, but they will lead tofuture technologies like cellulose and prairie grass, and other as yet created technologies. Iadmire what UPS does with their trucks, they try not to make any left hand turns at redlights, because the idle time waiting at the light burns up gas. One last thing. What are YOUdoing to reduce your carbon footprint, and reduce our dependency on foreign oil? If youhave not converted all your home lighting over to energy efficient CFL light bulbs yet, thenyou have absolutely no justifiable reason to complain. CFLs draw 25% of the energy of astandard light bulb, a technology which is on its way out the door anyway. Switch all yourChristmas lights to LEDs, which draw 20% of the current of standard light bulbs. All of uschipping in as much as we can will reduce the demand for oil. Have energy audits performedon your house and fix the areas where you are leaking heat or air conditioning.
The U.S. used 3 times as much oil in 2005 as it did in 1995
According to the
, oil companyrefining costs and profits only account for about 20% of the price of your gallon of gas. Butguess what folks, federal and state taxes are also 20% of your gas price, and counties addeven more on top of that, my county adds 18 cents per gallon, so if you want to pointfingers and get angry at the oil companies, then you better start screaming at your stateand local county for over taxing you. But by far the largest component of the price you payper gallon of gas is the raw crude oil, which makes up by the largest price component of your gallon of gas at 53% or more. So we have to reduce our demand for foreign oil period.No way around it. As long as demand is high, crude oil will be high, just like whena newPlay Station or iPhone or iPod comes out, demand is high, and people pay $1000 for themon eBay until demand dies down.
Why Oil Prices Have Risen So High In Recent Years
Plain and simple, more demand for oil than supply
Many millions more new houses and gas guzzling SUVs on the road than there wereten years ago, all adds up