The FACT of the matter is that John McCain DOESN'T KNOW ANY BETTER because he failed Econ. 1 and admits as much. The guy's brain is full of rocks when it comes to basic Economics. Just a pathetic candidate that has "flip-flopped" on so many issues that he has even wound-up voting against his OWN legislative bills in Congress. Just absurd.
what we are all, as Americans are concluding are the near treasonous conduct based on inactivity by these conservative leaders / liars... what is also important to comprehend, in case any others of you B School grads have done overseas assignments are: 1) communist countries do not participate in capitalist practices of domestic consumption or corporate consumption, which leaves the huge gap of dis-information (read lies that are being told) by traders seeking to justify these inflated prices 2) Americans have the largest sustained worker/resident commute distances to traverse from workplaces to their residenses, hence our demands have remained predictable over the years in contrast, in these developing nations (China, India, Russia, Brazil, Chile, Peru, Korea, Vietnam, Indonesia, Malaysia, Eastern Europe) the vast majority of their workers live near their workplaces and certainly not the distances that Americans traverse, conclusion -- even with increased demand through millions of new vehicles sold, the cummulative (estimated) distances driven daily are no where near those of Americans, hence, that 25% American / world demand really still represents something more closely to 45% American / world demand. NOT increased demand, but percentage wise, we still set and control price based on true demand. second conclusion -- artificial speculation is the culprit for these inflated prices in the barrel pricing, as well as in the void or absence of challenge from Bush II, yet again another area to abuse the free markets as we have seen... this is what happens when you make C and D students take the lead and be in charge....
Weaker dollar makes for pricer oil. We import oil, we print more dollars, Arabs want 2 dollars now instead of one. Indians use less bikes, Chinese buy more cars flush with money from selling stuff to Americans. Simple economics.