While President Barack Obama announced a plan today to open oil and natural gas drilling off the Atlantic Coast and Gulf of Mexico to reduce the country's dependence on foreign oil -- which theoretically could help keep prices down -- a major cause of rising oil prices is Wall Street investors. Prices have been steadily increasing, and the driving factor has nothing to do with demand and everything to do with investors betting that crude oil will eventually trade above $90 a barrel this year. MSNBC (3/31)
A compilation of links to inspiration, news, information, articles, editorials, commentary, entertainment, events, occurrences, resources, photographs, videos, quotes, contoversy, and conditions of interest to Pete Moss.
Search This Blog
NEWS AND ANNOUNCEMENTS
Top News
Real Clear Politics
Voice of Ameica - News
____________________________
Drudge Top Stories
Drudge Archive
Popular Science - New Technology, Science News, The Future Now
Entrepreneur.com - Small Business News and Articles - Latest Articles
Markets
Latest Hurricane Info: [Link Me to NOAA]
[See The Latest Computer Models]
[DHL WORLD CLOCK]
Miami, FL
Live From The International Space Station
Wednesday, March 31, 2010
Investors, not demand, are driving force behind rising oil prices
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment