Hey guys I don't know too much about oil but would anyone be able to explain to me when people talk about oil prices??? I keep hearing that it goes up is it because OPEC who have a monopoloy over oil are holding back so they get more money for it or is it because the US/world are demaning more and because I've read that its reached its peak and demand may not be met which is pushing it up? Thanks heaps! I don't mind if you talk about oil in general gives me soemthing to read and learn thansk!
Read this http://georgewarren.blogspot.com/2007/10/gold-standard.html OPEC was oil producers fight against the US removing the dollar from the gold standard. Limiting supply was just to get oils price in line with the deflating dollar against gold.
