The price of oil is rising - why? Is it because of events in Egypt? Egypt does n

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  1. peterxdunn profile image58
    peterxdunnposted 7 years ago

    The price of oil is rising - why? Is it because of events in Egypt? Egypt does not produce oil...

    and the Suez Canal is still open to traffic - so how could it by their fault? Are the oil companies simply taking advantage of the situation to maximise profits whilst thinking that people around the world will blame the Egyptians for the sudden increase? Perhaps we are all being collectively punished for the temerity shown by the Egyptian people in standing up and demanding justice. Your views please.

  2. junkseller profile image82
    junksellerposted 7 years ago

    You don't need to have actual disruption to affect prices.  Worry over disruption can do the trick.  Plus, I think the nervousness isn't just about Egypt, it is that the unrest could spread throughout the region - there have been protests in other places; Tunisia of course, but also Yemen, Algeria, Jordan, and Sudan.  Actually, Jordan just sacked its cabinet, today or yesterday, I think.

    I'm sure the oil companies don't mind, but I don't know if I would consider it any sort of conspiracy.

  3. Mark Upshaw profile image60
    Mark Upshawposted 7 years ago

    It isn't the oil company but the oil speculator trying to make money in a capitalist game.  If you think that is a terrible thing, you can always choose to live in a socialist country where gas prices are double that of the US. Sarcasm not intended, but contrast yes.

  4. Taleb80 profile image83
    Taleb80posted 7 years ago

    The whole world now is a small town, if someone coughs in the north people worry to get flu in the south.
    As there is unstability in a big country like Egypt, it can affect the prices as general not for oil only.

  5. nightwork4 profile image60
    nightwork4posted 7 years ago

    the price is rising because the oil people want more money. i don't know how many times i've heard them state that because of this or that, oil prices are rising but it seems to work because up they go. the benefit to higher fuel prices is that perhaps people will consume less.

  6. profile image46
    AnielaSofiaposted 7 years ago

    The experts are actually calling "the perfect storm" for oil prices to climb much higher than they have in years.  Check this out: http://hubpages.com/hub/rising-oil-prices

 
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