Saturday, October 20, 2007

Crude oil issue again

Crude oil price reaching another high record. I had been watching the price movement since it was $47/barrel. It was about 8 years ago. Today the price almost up by double.

The issues of oil price seem repeating each year about this time. Some analyst commented that the rising oil price is due to higher demand of oil for heating purpose at the winter countries. Not sure how true the statement. Does it mean the oil price will drop if people in the countries manage to get alternative source of energy for keeping their house warm?

Theoretically, the oil price should drop after the winter. In reality, it doesn’t. The oil price will remain at the same level and moves forward when the next winter come.

Can we get rid of petroleum dependent? Let’s try!