NEW YORK - Crude oil prices soared to $100 a barrel Wednesday for the first time, reaching that milestone amid an unshakeable view that global demand for oil and petroleum products will outstrip supplies. Surging economies in China and India fed by oil and gasoline have sent prices soaring over the past year, while tensions in oil producing nations like Nigeria and Iran have increasingly made investors nervous and invited speculators to drive prices even higher.
Supply decreases so of course prices rise. This is starting to follow the path of the education system. An expensive neccessity. You move ahead if you can afford it, if not you get left behind.
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