http://www.msnbc.msn.com/id/6249750%20
Msnbc - american media source - wide range of links and data regarding the future of oil, prices and alternative fuels.
http://www.accc.gov.au/content/index.phtml/itemId/793605
price of oil is Singapore markets, direct effect upon bowser prices for fuel in Australia.
http://www.accc.gov.au/content/index.phtml/itemId/790921
follow the ACCC's investigation of fuel pricing in Australia...
http://www.accc.gov.au/content/item.phtml?itemId=300941&nodeId=ed87dd1de7d0b91f4b4b06d2b40f875e&fn=Caltex Australia.pdf
see Caltex's response.
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2 comments:
Because people have a high demand, their willingness to pay higher prices is much higher, there is little substitute other than oil, many people as pointed out in the articles are believing that any price rises will be "short lived" as they are constantly changing, with the current instability within the economy people may also be realising that there will be changes with changes in the worth of the AUD $ compared to US$.
However the demand has also not changed because we as consumers have begun to rely on this resource, with such a high reliability many cannot resort to other opportunities such as LPG, or new substitutes such as hydrogen or newer energies, thus there is a monopolistic market within the oil industry.
Another point to make is how can we stop the oil suppliers from stopping the drastic change in prices as mentioned in article two. Are there governmental organisations such as the ACC or on a global scale that can implement a method to stop or slow drastic changes in oil, What are the reasons other than "shortage in supply" that are the cause for these price changes? Are their articles to support this theory.
http://www.financialexpress.com/news/opec-calls-for-tighter-regulation-of-oil-market/237677/
Here's an example of OPEC calling for more regulation on Speculative investment which drives up the price of oil. Regulating investment markets isn't going to be an easy thing to do though....
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