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Energy prices.?

I am naturally suspicious when it comes to Multi National companies and governments but how does this grab you as a thought.Yes oil prices have risen but why so quickly? The same amount is being pumped out of the ground and yes demand has increased but so has the efficiency of various parts of the world in extracting oil ie. Russia. Governments are worried about being held to ransom by say Russia as oil and gas supplies could be "manipulated" to control the "thinking" of various energy dependent western countries. They cannot build nuclear reactors quickly enough to cover this problem as it takes about 10 years to build one and it would also take considerable effort to re-open mines to start extracting coal and I'm not sure how many coal burning power stations are still working so its a bit difficult to change fuel sources quickly. So what better way to reduce energy consumption than by ensuring the cost is so high that consumption goes down and more energy efficient goods are bought

Public Comments

1. People are also driving the price higher in the futures market. It's so complicated, so many factors involved.
2. food for thought! but has anybody thought about the elderly who in this weather in the UK will be cold and who will be frightened to put on their heating!
3. There is no conspriacy, demand is outstripping supply. Governments like Mexico and Venezuela have taken over their oil fields and are losing production every year. The U.S. has more oil than Saudi Arabia and we refuse to drill for oil. We had the same argument 11 years ago are we going to wait another ten years before we decide to do something about it?. Oil is still the most viable form of energy and we must exploit it while at the same time developing cost effective alternative energy.
4. Areas where a lot of crude oil come from are in constant internal conflict or in the middle easts case conflict against America. Because of the constant fiting drilling oil becaomes more expensive and dangerous as the refineries become targets for terrorist attacks. ps: Russia is only one of many oil suppliers, that have no monopoly over oil that you are suggesting.
5. Everyone is jumping on the bandwagon. Prices of all things are being hiked by retailers who see an excuse to put everything up, long before the oil prices have worked their way through the system. There are people out there making a killing. Efficient use of energy is a must, but the way things are going it will be half a century at least before anything is done. By then It will be too late.