gemini104104
Verified User
Especially, when there is the gas free luxury of ordering DDash, AMzon and Instantcart home delivery or working at home to which a laptop does not use gas but bits and bytes, etc. All of this hoopla over oil prices in the U.S., apparently ignoramuses who were probably not born at realizing this is not the first time the U.S. issue with supply, demand and issues with the reasons crude oil prices were on a roller coaster ride as in what makes oil prices so volatile. Well, here are the reasons why:
Oil Price History—Highs and Lows Since 1970
Oil prices in the 20th century remained stable, in real terms, until the 1970s. Since then, political, economic, and other changes have rocked the oil landscape. In 2020, the coronavirus pandemic sent prices plummeting. In 2022, the Russia-Ukraine conflict caused prices to skyrocket.
Why Oil Prices Are Volatile
Since the 1970s, oil prices have become more volatile. They're affected by more than the laws of supply and demand. Oil prices are determined in the short run by oil futures contracts on the commodities markets. This means that in the short run, commodities traders can also affect oil prices. They can drive prices up even if they only think there will be a surge in demand, such as during the summer driving season. They can lower prices if they think there will be a dropoff in demand. That usually occurs as demand falls in the winter."
https://www.thebalance.com/oil-price-history-3306200#toc-oil-prices-in-the-1960s-and-1970s
Perhaps it's advisable to seriously consider other forms of energy as fuel, and the possibilities are obviously there but have not been supported as a result of greed, corruption and ignorance.
Oil Price History—Highs and Lows Since 1970
Oil prices in the 20th century remained stable, in real terms, until the 1970s. Since then, political, economic, and other changes have rocked the oil landscape. In 2020, the coronavirus pandemic sent prices plummeting. In 2022, the Russia-Ukraine conflict caused prices to skyrocket.
Why Oil Prices Are Volatile
Since the 1970s, oil prices have become more volatile. They're affected by more than the laws of supply and demand. Oil prices are determined in the short run by oil futures contracts on the commodities markets. This means that in the short run, commodities traders can also affect oil prices. They can drive prices up even if they only think there will be a surge in demand, such as during the summer driving season. They can lower prices if they think there will be a dropoff in demand. That usually occurs as demand falls in the winter."
https://www.thebalance.com/oil-price-history-3306200#toc-oil-prices-in-the-1960s-and-1970s
Perhaps it's advisable to seriously consider other forms of energy as fuel, and the possibilities are obviously there but have not been supported as a result of greed, corruption and ignorance.
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