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Old 03-13-2008   #36 (permalink)
1veedo
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Join Date: Jun 2007
Posts: 275
Default Re: Oil Prices Hit New Record

It's like 109 now.



Quote:
Originally Posted by cavedog View Post
Why do they charge so much for 42 gallons of oil?

Because they can.....
Gasoline (and crude oil) is a very inelastic commodity. This is one of those places where capitalism breaks down. The problem is that we are technologically unable to pump enough oil out of the ground. We've already discovered most of the good stuff so new oil fields are harder to find.

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