A Fool and His Money

Oil Prices have cooled after much worry yesterday as it reached a record breaking $135 per barrel. The sweet crude was valued at just over $130 dollars today.

This year has seen an increase of oil price by 40%.

The graph above shows that after the Asian financial crisis, oil prices started to decline in 2000 however since the 9 /11 attacks ( related to America ) and then the war in Iraq ( related to America ) the cost of oil has continued to surge. The Iraqi war actually caused a decrease in oil production by a 3rd down to 2 million barrels a day of production at one point and it was all in the name of finding weapons of mass destruction which never existed.

There is also a problem with the US housing market which has caused a global credit crysis. Tell me if im wrong but there seems to be one country causing a hell of alot of problems. What are we going to do about it?

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