why are oil prices so high, is it because of Iran conflict or shortage in supply?
371349
There is no shortage, but high demand for it.  Demand is outstripping the supply.  China's economy is growing fast and increasing its demand for oil.\n\nWe are still the largest consumer of oil in the world.
278954
"In today's complex global markets, the price of crude oil is set by movements on the three major international petroleum exchanges, all of which have their own Web sites featuring information about oil prices. They are the New York Mercantile Exchange (NYMEX, http://www.nymex.com), the International Petroleum Exchange in London (IPE, http://www.ipe.uk.com) and the Singapore International Monetary Exchange (SIMEX, http://www.simex.com.sg)."\n\n\n\nBasically the availability of oil as well as the cost of finding more are the main reasons for the pricing of crude oil. But there are a lot more factors that come into play when you start talking about gas prices which are connected directly to the cost of oil.\n\n\n\n"Global economic expansion is driving what the International Energy Agency says is the biggest increase in oil demand for 24 years.\n\nOil companies have tried to become more efficient in recent years and operate with lower stocks of crude oil. This means there is less of a cushion in the market against supply interruptions.\n\nThe combination of low stocks and Opec action to keep them low leaves the market exposed to the prospect of sudden price rises if supplies are threatened.\n\nThe world's major oil consumers remain dependent on the Middle East for their oil. Recent violence in Iraq and Saudi Arabia has again raised fears about an interruption to supplies.\n\nAnalysts also view political tension in non-Middle East states Nigeria and Venezuela as having the potential to disrupt exports and drive up world prices.\n\nLow US gasoline stocks and pressure on US refiners to increase production of new gasoline blends have also helped drive world crude oil prices."\n\n\nHope this is what you were looking for, please send me an email and I will elaborate more.
539266
Firstly, I believe that Iran being the 3rd major oil producer in the world has more than 20-30+ years of oil production. My guess in around 100 years or so. And this issue of nuclear energy is just getting ridiculous. Its every country's right to improve and Iran just like us has this right to have nuclear energy. I think we should stop being a bully to all these countries, all these wars have cost us dollars that could go in our education and health is going into killing innocent people AND we are paying MORE on gas.
307677
1) Iraq is a midsized oil producer, but their current production is still substantially below pre-war levels.\n2) concerns about Iran, a much larger producer with a muclear development program, are causing concern about oil supplies.\n3) There is no excess capacity available to help reduce prices, as increasing demand from China and other developing countries, along with sustained demand from the US and other developed countries, are currently absorbing ALL global oil production.
359795
The country has oil, be aware, very aware Bush is shopping for just such a state. We will do Iran first though, they have more oil
348889
supposedly it's because of "weapons of mass destruction." but we all know it's because of the oil. the shitty part is now bush has had us over there 3 years, and the fuckin gas prices are still pushing $3 and probably $4 in summer.
223454
The guesses vary wildly, because there are so many factors.\n\n1. You never know what natural disasters can shoot up oil prices like crazy\n\n2. OPEC is about as unpredictable as the weather itself. Read about it at http://www.reference.com/browse/wiki/OPEC\n\n3. There of course are the questions about the oil in Iraq and Alaska \n\n4. There are new alternative fuels being developed; when they are improved, since demand for oil goes down, the prices do too (See the law of supply and demand, http://www.reference.com/browse/wiki/Supply_and_demand ). A brief description of alternative fuel and a few examples can be found at http://www.reference.com/browse/wiki/Alternative_fuel . \n\n5. Also keep in mind the possibility of using oil shale, a topic that pokes up from time to time. Read about oil shale here: http://www.reference.com/browse/wiki/Oil_shale\n\nUsually at the end of an answer I say something like "Good Luck and hope this helps" but I'm fairly sure I just made your job harder and a bit more confusing so...\n\nGood Luck and sorry that this probably didn't help.
111322
MAIN REASON JELOUSY.there is the decrease in the oil filds in the usa and europe is just folowing,so the point is that Iran is now very rich in both oil and the new unclear energy so the main thing is, it is going  be richer then the usa soon so they want to prevent this. Though they do not have any evedence thet Iran is making weapons useing un clear energy.Infect they should be happy to know that there is going to be other kinds of energy available other then oil.
457866
The price of gas is going up due to the increase in price of oil (from which gas is refined) in the world markets.\n\nIt is not a question of supply and demand. There is as much oil being produced and consumed last week as this week. It is just that the stock and commodity markets (mainly in New York) control prices and push the prices up for their profit.\n\nThese commodity market types rely on politicians like George W and Cheney to use violent language. They will then jump on the bandwagon by bidding prices higher.
188335
iraq has the 2nd largest oil deposits in the world. Before the war these could not be exported due to UN sanctions. UN sanctions would not be lifted untill saddam complied with the UN regulations and allowed inpectors in. Answer.... get rid of him. If Demand for oil is increasing, and supply remains the same. prices would go up. So if supply increases with demand prices wont change, and blair and bush will get re-elected!! They might not be popluar for liying about the war but niether would they if you were paying £8 for a gallon
78960
they are going up here too, I think the oil companies noticed that when it was at it's highest a couple of months ago, people were still buying. They know what "the market will bear" and are just trying to line their pockets more at our expense. There is no indication that supply is lowering or that demand is raising. So what exactly is the reason? Here it was 1.85 1st of January now it ie 2.28 and rising steadily.\n\nhow high are we going to let it go up?
202996
I have! Oil prices go down and gas goes up. Supplies increase the price at the pump goes up. The 2nd biggest oil deposit in the world comes under U.S. control.... You get the idea. Enough is enough. His friends have all made a buck on this insanity, let's go back to $1.00 a gallon.
615592
when oil prices go up, It costs more to make & deliver goods. In turn the price of goods go up. Hence inflaton.
503007
Of course the main issue is and always will be competition. But as a product standpoint it would have to be rising manufacturing, shipping, and product costs due to the increase in energy prices.  Oil is used in more than just vehicles; it's used in many products or the manufacturing of them.  We have already seen the increase of "Oil" not only in our fuels but in consumer price index that rose last week.  It's a trend that will not fall until alternative energy sources are more widely embraced by the market.
903450
First, there has never been a shortage of gas or oil, if you watch when it comes time for travelers to starting vacationing or warmer weather starts, gas prices go way up then by fall after Labor Day they go down.  We have more oil that people don't even know about.  Our Pres. doesn't want this know but we have plenty, we don't have to buy from Iran or anywhere we have enough resources in America.
251487
I do agree.  The presence of oil in the middle east has propped up medieval autocratic governments that would have otherwise fallen by the wayside.  The petro-dollars have given these government the means to basically bribe their populations without really serving them.  While some middle-easterners are ridiculously rich, the majority are in abject poverty (that is why Islamic radicalism is becoming so popular).  If you look, you will see that the radical Muslim movements are the most popular in the countries that are trying the hardest to restrict their people.
1142097
There are a bunch of factors. Disruptions of oil in Nigeria, The iraq war, the Iran stand off with the world (In particular the US), increasing demand of oil in the world ( in particular China and India), and other minor factors. \nIts a simple economic thing, the more people demand, prices go up. As China and India start developing, they need more and more fuel to function, they demand more, in fact look at their population, china and india make 1/3 of the worlds population. This demand drives the price up. Iraq war, is anothe rmajor factor. Everytime, US and Iran have a heated battle of words, prices will go up, speculations make prices go up. Analysts predict prices will go up, hope this helpls