A premium in the oil price of somewhere between 10 to 15 dollars a barrel reflects this heightened anxiety.
Sentiment: NEGATIVE
If a war started, the oil price probably would go up, as you said, maybe $5, $6 a barrel until you saw other oil from the extra supplies that are available elsewhere coming into the world, into the market.
The price of crude oil accounts for 55 percent of the price of a gallon of gasoline, driven by global supply and demand. The United States depends on foreign sources of oil for 62 percent of our nation's supply. By 2010, this is projected to jump to 75 percent.
Today's gasoline prices are taking a severe toll on Americans' pocketbooks. Consumers are anxious.
The oil market is especially sensitive even to a hint of expansion or contraction in supply.
You know, oil prices from 2007, on the strength of a very robust global economy and a very robust emerging China, many of you will recall, ramped up to near $150 a barrel. Then we had the financial - U.S. financial collapse. Oil prices collapsed all the way down to $40 a barrel.
It's clear price gouging... The oil companies are gouging the American citizenry aggressively, relentlessly, and without any sense of conscience whatsoever.
There's a terrible price to pay for stress in your life - it really takes a hit on your heart.
There are growing concerns that oil companies are making too much in profits at the expense of consumers.
If you opened up every single potential drilling opportunity in the United States, it would have the effect of lowering gas prices three cents, maybe. And that's because, of course, oil is traded on a global market.
Not being anxious requires a level of humility, doesn't it? It does, I think. It's not all about you.
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