Why do they say oil prices are rising with the supply that is needed? Our reserves are at 98% thats not enough

Didnt the man in the white house have a meeting with the king last week and the king said he sees no reason to increase production because we are at 97-98% on our reserves.. Whats the truth here? Then all the oil ceos are in these meetings and have made profits in the first quater for as much as they made all last year. I think it would be great to just shut down america for a whole week once. No buying of gasoline, disel or food and see how that works out. Food we purchase has, the clothing and thing it is all regulated but the price of oil. Shut it down for a week and maybe that would make a good statement for someone to step up and get all the questions anwsered to why we are paying so much for oil.Why do they say oil prices are rising with the supply that is needed? Our reserves are at 98% thats not enough
I agree, in part, with a boycott. It worked for the farmers in Belgium when they parked their diesel combines on the Freeway. However, the problem is larger than just our government and the US oil demands. The part of the problem we can't fix is the high demand from China and India.





';In 2008 China , India , Russia and the Middle East for the first time will consume more crude oil than the U.S. , burning 20.67 million barrels a day this year, an increase of 4.4 percent over year earlier levels, according to the International Energy Agency. U.S. demand will contract 2 percent to 20.38 million barrels daily, the IEA forecast. (Bloomberg)';


http://www.eia.doe.gov/oiaf/ieo/oil.htmlWhy do they say oil prices are rising with the supply that is needed? Our reserves are at 98% thats not enough
World demand is increasing. Refining capacity has not kept up with the increase in demand.





Your suggestion to stop using petroleum for a week is one of the most absurd suggestions I've heard in my entire life. The grocery stores would be empty after four days.





Of course, this might be a solution to the obesity problem.
Our oil reserve has NOTHING to do with the amount of oil on the market. The oil reserve is oil that is owned by the government that they use in times of emergencies. Food and Clothing prices are not regulated ,where do you get this stuff???
It has absolutely nothing to do with supply and demand.





http://www.usatoday.com/money/energy/200鈥?/a>
The Government has nothing to do with the price of oil. How about we all slow down to 55 for a month. Then we won't need as much gas, Lets try it.
Reserves aren't meant to be primary sources, they are just what they are called... ';reserves';. Good luck with that ';shut it down'; thing, something tells me it won't work.
Watch CNBC once in a while and you might learn something about economics. Stop watching American Idol.
the reserves will only last about a week,.