[TimPatriot]

Worldwide oil supply is exceeding the demand currently

As I said in my previous reply, I believe specutlation on future supply and demand is largly driving up the price, what do you think is driving it up. I too have read of several large oil reserves that are available to tap in the U.S., I chose ANWAR just as an example of where Congress failed to move in the the desire and interest of the oil companies and the people of Alaska for overly hyped environmental concerns.

[rednesss]

"As I said in my previous reply, I believe specutlation on future supply and demand is largly driving up the price, what do you think is driving it up."

I think it's speculation for investment's sake that is driving it up. Profits have to be found somewhere and the money that was going into the housing markets are going into commodities now. Just a little snippet from a story that I found:

Crude oil futures had the highest volume of commodity futures contracts from January - October 2007 at 101.5 million contracts traded. That was an increase of 79 percent over the previous year.