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OPEC's president, Chakib Khelil sealed the fate of the price of oil today by saying that the price will never decline for several reasons. It has "nothing to do with supply and demand," he said, and a lot more to do with the devalued dollar as a result of lowered interest rates in the US.
Oil has gained 50 percent, "driven partly by the tensions over Iran's nuclear program, plus expectations that global oil supplies will not cope in the long term with strong demand growth from newly industrializing China and India."
Where it's at is where it will stay.
Gas Prices Never Coming Down
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Sunday, July 6
8 comments:
Hi Theresa,
Thanks for the comment you left about the Obama/Church/State thing, I soooo agree with you!!! Just discovered your blogs today...nice work! I'll be back for more!
Namste
kim
You're welcome, Kim! I couldn't pass it up!
Folks, you can see what we're talking about at Eco-friendly life and toys. Kim's blog is worth the visit!
Theresa
You know, gas prices wouldn't be so bad if the US government would just lower the stinkin' taxes and quit babying China. We've lost so many manufacturing jobs, sold out so much of our country to foreign interests, and devalued our own currency.
Yuck. I just hope these oil prices will spur the US into finding alternative, renewable energy sources.
@Mrs. M - I don't think there's any alternative right now than to baby China. So much of our goods come from there right now that we'd all be without everything. I'm not saying it's right, because for dang sure it's wrong. It's just the government letting Big Business rule the roost. Profit, profit, profit!
@CB - I hope you're right. We need to do what needs to be done. NOW!
Thanks for stopping by!
Theresa
Check out this website from GasBankUSA that I found while looking on the web to try and see if anyone offered a solution to the rising cost of gas. The website is located at http://www.gasbankusa.com and discusses a fixed price gas solution and a way to lock in a price for gas and diesel fuels.
Now I'm depressed. Can we at least try to have a stop at the ceiling?
p.s. I've tagged you for a meme lady. Let me know which of your websites it lands on if you decide to play.
Thanks!!
Yes, it is depressing, Grandy. Is there a ceiling? I hadn't yet heard that. Oh, I sure hope so...
Theresa
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