Is oil at $100 a barrel and gas at $3 per gallon because of?

Partly because of the shutdown of drilling our own reserves, and partly because of China and India's increasing needs.

I believe the price will continue to climb and possibly never fall again, $5 gallon in summer which will become the standard price.

Obama and the government of the failing U.S. economy do not have enough influence to greatly alter the price of oil. Exxon only owns around 3% of all the worlds oil reserves, and Halliburton is a service company that doesn't own a drop. Most of the worlds petroleum is owned by governments of foreign nations. Oil is going up because demand is going up elsewhere in the world (China and India), and since oil is a global commodity we are feeling the ripple effect of this in the U.S.

Think about it. The Democrats wanted cap and trade and didn't get it.

They wanted us to pay higher prices for energy/fuel so that we would be bled dry from it and have to cut back. It's their little way of getting what they want and downright sneaky.

Their warped sense of what is going on in the world has made this happen. I think we have to do something about pollution and being green, but I do not think hurting people financially is the way to go about it.

We should be exploring other things, we should be offering grants and tax breaks and not hitting hard during tough economic times to make people think twice about using their car.

As for me, my lease on the old car is up and I'm buying a turbo diesel VW this week, got green car of the year award for the last two years. I'll be getting great mpg and only filling my tank about every three weeks or so instead of weekly. I won't have a hazardous waste battery to dispose of like a hybrid does and will get as high as 50 mph on the highway and 30 - 35 around town. I'm doing my part and I think we could all do more.

I think the Obama administration and the liberals are behind this rise in costs and it will all come out during the next election process, perhaps.

Continue to do what YOU can do to help, but don't let an overreaching government grab your money and take charge of this. Entrepreneurial opportunities and a free market/capitalism will fix this mess. People are out there researching, learning and working and government involvement is not the answer.

Obama's Union cronies? Wow, that is a real stretch... Did you know Exxon named an oil tanker after Condoleza Rice for all her help, and Cheney was the former CEO of Haliburton?

Anyways, the reason for high oil prices is called peak oil has been achieved and it therefore will only continue to increase. Peak oil means that with current technology oil can no longer be drilled at a rate sufficient to meet global market needs. Countries like China and India are now importing huge amounts of oil as well as the US putting too much demand. It doesn't mean there's not plenty of oil in the world, it simply means that it can't be gotten to fast enough.

oil barons have been manipulating the STOCK and Market for 100 years. in fact i just recently watched the history of the electric car. the electric car was at one time more popular except oil business became more wealthy and more powerful

if oil goes to 150$ a barrel gas will 5 or 6 dollars a gallon. its all a manipulated stock fraud. thats how evil capitalism has become when only a few "capitalists" gain control

In canada gas is at $1.14 cents a litre, which makes it close to $4.00 a gallon. Exxon is totally in it for profit, they make a profit on their dealers, which only get about 14 cents a gallon or even that, they make money on real estate as most Exxon centers are rented and the value of the property goes up they play the old shell game one for you and two for us. -;)

No, and quite frankly, it’s because some shumuck felt the need to place OIL on the committees market. Oil is NOT a renewable product or resource. As a wise man once said; “Next time we go to war for oil, how about we ‘get some‘ (“Oil”.)

the courting is inverse. the fee of gas in united states of america of america reacts to the obtainable supply synthetic via the Refiners. they're the weakest hyperlink. as a fashion to have gas dictating Oil fee you're able to could desire to function a miles greater useful refining device interior the USA. as that's, they are in a position to somewhat shop up with the industry as that's awash with Crude. well being negative aspects led to via ignoring pollutants controls, government land use coverage conserving Refiners from procuring inner maximum lands, and overall equipment situations all combine to dodge massive U.S. gas manufacturing. think of stuffing ten pounds of meat right into a 5 pound sausage casing and you have the state of affairs. the two Crude and gas stockpiles are pronounced on the Bloomberg economic calendar weekly.

No, the weakness of the dollar plus the Alaska pipeline problems are driving the price of gas up.

Exxon and Halliburton's execs busted up their unions to have bigger bonuses.