What is really driving the price of oil, economics or politics?
23 January 2012
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Supply and demand drive price, right? Or is the price of oil, and consequently gasoline, being driven by politics?
Could it be that we are merely at the mercy of the social upheaval plaguing the oil-rich states; are we simply financing their bloated budgets created from their record-level spending on subsidies and the pumping of money into the salaries of their citizenry “to suppress any popular discontent”?
CNN’s Fareed Zakaria examines why oil prices remain high. The reasons, and the facts, might surprise you.
“What in the world – The politics of black gold” Fareed Zakaria GPS | January 14, 2012
(video 4:10)
