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Originally Posted by dc_dux
The primary reason oil is expensive is due to regulation? Explain, please.
Healthy domestic oil companies? Exxon's earnings of $10 million/hr in the 4th quarter seems pretty healthy to me. Exxon et al set new record profits with each passing quarter.
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IMO, the primary reason oil is so expensive is down to speculation - the economy is generally in the toilet, the stock market is a bit shaky, so investors are buying oil and pushing up the price somewhat artificially.
I imagine it will level and drop shortly.