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Originally Posted by SUBMAN1
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Originally Posted by Konovalov
...99% of OPEC hate the US hence high oil prices. What a pile of poo poo. Don't be so simplistic. China, India for a start......
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Sometimes things are that simplistic. If you want to get complicated, start reading up on the delisting of barrel prices based on supply. Also look at the people to the countries involved, from Chavez to Iran. All wonderful people! I would like to have lunch with them! :p
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The lack of supply is only one of many major factors influencing the high oil prices. It's not just as simple as you say. There is:
1. Supply shortage - caused mainly by industry underinvestment.
2. Slightly increased demand fueled by China, India and co.
3. War in Iraq, while instability in Nigeria due to ethnic tribal tensions have resulted in lower outputs.
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