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Is the current high oil price caused by the inability of scientists or the massive production of energy consuming products?

Answer:
I thought it was due to world demand exceeding supply, but I'm no economist. What are the scientists supposed to have done wrong? You wouldn't have much oil at all if scientists and engineers had not developed ways of finding it.

Answer

It could also be due to political considerations--someone with massive oil reserves gets mad at the world for whatever reason and raises the price of oil.

First answer by Knapp1. Last edit by Jmowreader. Contributor trust: 1119 [recommend contributor recommended]. Question popularity: 4 [recommend question].

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