Originally Posted by DirtyPaw
Originally Posted by Grammy o'5
With the unrest in Libya, following what happened Egypt, it is inevitable, and it will effect all aspects of our lives.
And, of course, those that can buy stock in oil will probably do well.
I probably should not broche this subject but here I am. Oil is controlled by OPEC and they are the ones that control the price of oil. Also it is based on supply and demand. Now keep in mind oil is almost everywhere in the world so there is no shortage of it at all. So if you consider the fact that OPEC also determines just how much oil they feel like putting on the market they can control the price. They do the same thing with diamonds. Diamonds are everywhere but they only allow a few on the market every year.
Respectfully submitted,
OPEC may be in some control, however if the fighting were to errupt in the larger oil source countries and things got shut down, they have lost any control they had. Shortages would happen quickly and spikes in prices would happen.
They are afraid of this happening, it was in today's Wall Street Journal.