...but what does oil blame its problems on? In class we talked about various factors that impact foreign policy, or the media. Here's a quick scan on necessary factors for determining the price of oil:
Energy companies (broken down: "upstream" companies that extract oil, "downstream" companies that refine), OPEC, Department of Energy, nationalized oil companies (foreign governments), investors, demand of consumers (drivers of cars, trucks, boats, planes, consumers of home heating oil, manufacturers of anything plastic, the military), environmental/clean energy groups and lobbies, alternative energy companies, gasoline retailers, local taxes and restrictions, natural disasters (Katrina wiped out gulf production for some time), accidents (shut down refineries), safety and environmental regulation, transportation costs, weather, litigation.
So go on, pick your raison du jour, and lay it on thick when you complain about how much it costs to fill up at the pump.
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