When the civil war in Libya is over will the price of oil go down?

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  1. Brupie profile image71
    Brupieposted 6 years ago

    When the civil war in Libya is over will the price of oil go down?

    Although Libya isn't one of the top producers of oil in quantity, it needs much less refining than most oil, so it is in high demand.

  2. nightwork4 profile image59
    nightwork4posted 6 years ago

    hopefully not. we need the price to climb to cut down on the abusive use of it. people are getting to be too lazy because driving is so easy to do insteaad of walking or riding a bike. the environment is paying dearly also for our thirst for fuel.

  3. Rheagl profile image78
    Rheaglposted 6 years ago

    Nightwork4, Truck drivers can't use bicycles to get produce to market.  Every penny that gas goes UP increases the cost of products we NEED to live.  Right now, especially, when people are barely able to buy what they need; why do you want to make them spend more?  That is just cruel.

    As to the question:  Prices won't come down because they are deliberately being kept up by government control and regulation by people like Nightwork4 that have control of the government.

    http://rheagl.hubpages.com/hub/Get-the-economy-moving

  4. Jonesy0311 profile image60
    Jonesy0311posted 6 years ago

    I doubt it will have much of an impact. The prices continue to rise while oil companies boast record profits. A commodity is only worth what people are willing to pay and Americans seem to be willing to pay whatever it takes to drive their precious gas guzzlers. Personally, i am trying to ween my family down to one vehicle and utilize a bicycle whenever possible.

    OPEQ will soon get off of the US Dollar as the standard for oil purchases. This will crush the US because, really, this is the only power that the USD still has. People are still waiting for the wars in Iraq and Afghanistan to lower oil prices. Actions such as those in Libya have been used for over a century by powerful governments to secure corporate interested; China, Nicaragua, Panama, etc. I agree with nightwok4 that if prices go down, we may never learn our lesson. Alternative energies must be pursued if this planet is ever going to be able to sustain 10 Billion people (projected by 2050).

  5. Hestia DeVoto profile image61
    Hestia DeVotoposted 6 years ago

    The supply of oil on the Earth is finite and we have already used up the bulk of it.  Over the next few decades, it's just going to get more and more expensive to extract oil from the planet and no matter what actions are taken, prices will go up.

    http://hestiadevoto.hubpages.com/hub/coping-peak-oil

 
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