What causes the crude oil price traded so high in International Market?

First of all, most of the world crude oil reservoirs are depleted, (it is renewable actually, by geological ages it is not too long).





But energy demand is so high especially from two new industrial booming nation China and India,


plus the all the old one...


So more to burn, more fuel. Capitalis way, simple raise up the price, make more profit.





Secondly, nowadays it is more and more difficult and expensive to do an exploration, drill and produce the crude from earth.





Long2 time ago, most of the well are vertical well,


which is mean conventional drilling, drill straight to reservoirs like nobody business, and most of the reservoirs were shallow in depth comparison.





Nowadays, most of the reservoir are in remote areas, deep seas and hostile areas.


Exploration and evaluation cost more money and hi-tech tools and softwares.


The reservoirs itself, most of the unreachable by conventional drilling, they need to be drill directionally.





Directional drilling cost tons of money,


because they're using very2 hi-tech technologies and tools that none of you can imagine.


Completion and well testing are something else, not yet reach production, transportation and refinery processes, all using hi-tech end.





And none of this ';Seven Sisters'; has that tech.


So they need helps from their brothers, services companies to get all the services and equipments.


And of course it is very expensive, just ask Halliburton, Schlumberger, Baker Hughes etc. how they make money?





Thirdly, sometimes they need to make war to get an oil,


i.e long time ago, Uncle Hitler ran Operation Barbarossa,


just to get the Soviet Caucassus Oil Field.


However he failed the war because, to be honest he didn't has oil to fly his ME262.





Recently, Uncle Bush, invaded Iraq, just to grab the second largest crude reservoir in the world.


Even war is a bussiness. War cause money, lives and consumed much more oil.





So we need to pay the price of dollar down, because of the war.


Just stop the war, dollar will come up and stable.





Because after WWII world economy and currency base on how much US dollar per barrel, simple, because they win the war for all of us, agree?What causes the crude oil price traded so high in International Market?
Because it's heavily consumed by US jet fighters in Iraq.





If it's due to China's emerging economy, then the price should have gone up when China started subscribing to capitalism.What causes the crude oil price traded so high in International Market?
oil is not a natural source which is renewable.,so of course we have to control the manufacture of it so that we will be able to use the source for the next 100years maybe...which would also give us ample time to figure out some other source which can replace fuel n oil...
time to earn more, why not?


why not ask ur leader, since u r oil producing country, it's more ........illogical.........
supply and demand thing
Greed
war in Iraq is the main cause...blame on George W Bush