why do oil have to pay in US dollars ?
483916
To avoid abuse, notably, leisure driving.
1147879
Basically it comes down to supply and demand.  There is increasing demand for oil (mostly from developing countries like China and India, but demand in the US is increasing also).  OPEC is already producing near its capacity, coupled with no relatively new oil refineries having been built, this causes the an increasing demand against a slower (negligible) increase in supply of the refined oil used for gasoline.   Hurricane Katrina knocked out some production capacity which is still not completely up and running.  Also there are other less significant reasons such as the changing of fuel additives from mtbe to ethanol (this has been done for environmental reasons).  To put a few non-truths to bed...  The oil companies were NOT found to be doing any price gouging (illegally increasing prices beyond unreasonable economic fundamentals).  Second, everyone wants to blame President Bush for increasing prices when in fact he no longer has any personal investments in oil companies(he did this specifically to discredit these accusation most likely); in fact President Bush has probably more to lose from high oil prices than any other single individual alive.  He wants a strong economy, with little inflation and needs that help for party elections this fall.  If you want a specific group of people to blame, you should look at commodity traders themselves, they are the ones who control the international price changes from day to day and are the ones who fear supply disruptions (such as the one that occured in Africa, threats from Iran and Venezuela recently) and terrorists act which affect the flow of oil (the so called terror premium).
436434
Actually, gas prices in the US are artificially low.  We pay about 1/2 to 1/3 of Europe's prices.  Prices here fluctuate almost arbirarily, but also in accordance with supply and demand, and, of course, the price of oil.  It's precisely because we're in this war over oil that prices has gone up. War makes production and distribution a pain, to say the least.  Other oil producing nations, like Venzuela and Nigeria have also had political distruptions.
321020
its the unstable US dollar, its the world currency, if the US economy stumbles then other countries need something to bank upon thats why gold prices are increasing, and oil prices please ask Mr Bush!!!!
131862
Germany and France still owe us from the World Wars...\nIf we were to take/require their oil as payment, one could make the arguement that the US invaded Iraq not for safety (potential for WMDs) and not for their freedom...\nwe have to pay them for their oil or we have stolen it from them
1048259
We are going in debt by the trillions, this will eventually be paid by tax payers, your kids, your grandkids and maybe even your great grand kids will be paying this debt. No the oil company' are just pocketing the money. Record profits tell the tale.
1153642
Because US is one of the wealthiest countries in the world. People are living a good life compare to the rest of the world. They have education, health care, basic services, advance technology, a largely advanced military, free media, etc.\n\nYes, the US govt is borrowing lots of money, but consumer spending is unbelievable. One of the richest countries in the world, and yet lack of education in finance. Most of these people don't know how to save.\n\nIn economical sense, the value of the dollar is constantly fluctuating. You need to understand Monetary Policy and Fiscal Policy to understand it.
306466
Why would the Bush Administration risk widening Gulf War II to include Iran when it still has the chance to limit its losses to Iraq? The most popular explanation is that the US wants to pre-empt the Iranian decision to set up a Tehran oil bourse to facilitate the selling and buying of oil in euros instead of US dollars.\n\nThe idea is that this would cause a chain reaction in which more and more oil producers and their customers would trade in euros and eventually force the US to pay for its oil in euros too. This would mean the US would have to do what every other country in the world has to do, namely earn foreign exchange through exports in order to pay for its oil imports.\n\nLast year the US trade deficit for petroleum products was about $300 billion. While the $US remains the international reserve currency and oil continues to be traded in dollars, the US can pay for its oil simply by printing more IOUs in the form of US treasury bills.\n\nIf the US had to find euros (or yuan) to pay for its oil, it would have to increase taxes, cut consumption and increase exports. In short, according to this scenario, the US could no longer afford to be a military superpower and would have to cut back its global adventures.\n\nIn the process, the $US would collapse, wiping out the accumulated financial assets of America's major creditors and probably causing a depression of 1930s dimensions. More generally, such a development opens up the question of whether the reserve status of the $US is supporting US superpower status, or whether US military power is propping up the reserve currency status of the $US.
486093
What are you talking about?\n\nGas prices are high because the world (specificly the USA) haven't been researching or building an alternative fuel source infrastructure. Our politicians, both Rep & Dems are bought and paid for by the oil companies, the wealthiest lobby there is.\n\nWhat has that got to do with partisan politics? Have you been asleep?
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 $4 in summer.
599180
yes, essentially. they are just betting on the future supply of oil, which seems dumb when right now the price should be much lower. unfortunately this is not anti-american. capitalism is the american way and overall, it is a great system. we just have to live with a few unfortunate excesses.
1141552
Yes You can. Since Dollar is the currency in Australia and Canada etc you should specify US dollars like say US$ and the write the amount.
290875
the US gets it's oil from  OPEC ( Organization of Petroleum Exporting Countires). This includes Saudi Arabia, Iran, Iraq and many other middle eastern countires. \nSOme of the oil does come from the south ( texas for example). As to prices google it.
368718
Some of the prices are artificially inflated. \n\nHowever, gas prices in the US are still lower than in most countries. Go to Germany or England and pay the equivilant we pay per gallon for a liter. \n\nI do think that many of the companies are taking advantage of teh recoupment of defense oil reserves and the war against terror in order to boost their profits.\n\nOn a final note, though, the war in Iraq was not about oil. If it were, we would be getting oil from Iraq. We are not, yet at least. Much of what excess Iraq is producing is going towards paying their reparations to many countries.
175598
United States Dollars
449895
The simple economic principle of "Supply and Demand". This states that you charge more if it is a more wanted item. If there is a demand of it and a small supply then it is very valuable (like iPods and such) the people will charge you what ever they want because they know you need it. But if there is less demand and doesnt matter how much supply the producers will charge less as a means of selling their item (ie the sales been at store, nobody wants it so they sell it for cheap).\n\nRight now the war is slowing down how much oil can be exported which is making the supply drop. Not to mention that the oil compnies need to turn the crude oil into gasoline which cost money as well.
1048854
As you know, the cost of crude refineries pay is set across the board globally. Which in turn they charge the same price. It is mainly these franchise gas station compnaies that change the price, who are told to change the price as the market flucuates. Which in turn the station across the street wants to stay competitive by adjusting their price accordingly, up or down. It's all about the supply and demand now. The United States uses approx. 84 million barrels a day, when our supply is just 85 million.\nAnyway, here is a good couple vids to watch.