So I was just reading the MSN news page, just trying to keep up with world events. I come across an article that reports that the jobless rate has hit 8.9%. Further down in the article there was a report about the price of oil still going up.
Now as I learned in college, price is driven by demand for a product and if a company can supply enough of that product. The article states we have a record supply of oil and demand for that oil is at an all time low. But because there MAY be a jump in demand, the price is going up.
Speculative buying is one of the reasons that we are in this whole economic downturn. They don't remember when gas was 4.50 a gallon, people stop going places, stop spending money because they had to save to put money in there cars.
I guess not, there is only so many times you can screw the American People till they have had enough. And that time is near.
Now as I learned in college, price is driven by demand for a product and if a company can supply enough of that product. The article states we have a record supply of oil and demand for that oil is at an all time low. But because there MAY be a jump in demand, the price is going up.
Speculative buying is one of the reasons that we are in this whole economic downturn. They don't remember when gas was 4.50 a gallon, people stop going places, stop spending money because they had to save to put money in there cars.
I guess not, there is only so many times you can screw the American People till they have had enough. And that time is near.