This is a very serious matter. First and foremost, The United States of America's relations with the oil producing countries. Every the US creates a conflict with these nations,fuel prices go high.The fluctuating value of the Us Dollar does a lot of harm to this as well...to support my stand I shall refer to:BBC news of,Monday, 23 June 2008 14:19 UK- which reads as thus;
"# Dollar weakness encourages financial investors to look for other more lucrative investment opportunities, with oil top of their list
# As oil is traded in dollars, it also makes it cheaper to buy "
All this war that is happen in the middle east countries and other countries like Russia and the recent scandals in the Nigerian oil plant do a lot of harm to the increase of these prises;
"Tensions over Iran's nuclear programme. There are fears that an Israeli attack on Iran's nuclear installations could trigger a wider conflict and threaten traffic through the strategically vital Strait of Hormuz, used to ship 40% of the world's oil. "
Reference:http://news.bbc.co.uk/2/hi/business/7469124.stm
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment