Why did the price of crude oil rise so high in 2008? In regards to supply/demand. Why has crude oil fallen?

Also, what are the likely effects of the rise in petrol prices on


a. The tourism industry


b. the price of fruit and vegetables at green grocers.





Thanks heaps!Why did the price of crude oil rise so high in 2008? In regards to supply/demand. Why has crude oil fallen?
Well, according to conspiracy theorists, oil prices are driven by speculators driving the price up or down rapidly. Since oil prices were quite stable the latter part of 2008 and beginning of 2009, I guess we must assume they took several months off form their work?Why did the price of crude oil rise so high in 2008? In regards to supply/demand. Why has crude oil fallen?
Speculators artificially drive the price up. After all people have to heat their homes and drive their cars. So in order to make a quick buck they have to force the prices higher.


Crude oil has fallen because the depression hit. People are not buying big ticket items and not driving anywhere so supply is outstripping demand.
It's called greed and oops, they caught us. It's also called, Bush and Cheney were defeated.