Oil Prices Rise as Temperature Plummets

In the frigid Northeastern United States, homeowners prepare to tighten their belts as forecasters have predicted much lower temperatures in the region in the recent future. As the consumer of 80% of the world’s heating oil, the Northeastern United States often serves as a barometer for the raising and lowering of the price of oil across the world. The Midwestern states are dreading an approaching cold front as well, and as a large user of natural gas, are expecting to see those prices jump in reaction to forecasts as well.

Large demand dictates price fluctuations as often as small supplies do. When more users are clamoring for a particular product, whether it be heating oil or the newest “Tickle Me Elmo”, prices are sure to rise. This unfortunate reality comes much to the chagrin of the population of the Northeastern United States, because they are all too familiar with its adverse effects upon their winter budgets. Hitting them where it really hurts, oil supplying distributors know they have homeowners over a barrel, so to speak, with no other choice but to foot the bill in order to ensure the comfort and safety of their loved family members during the long, cold winter months. The United States Weather Service forecasts far-below normal temperatures in the next two weeks of 2008, and consumers are at the mercy of fluctuating prices.

Presidents of the United States have time and again submitted themselves before the oil producers of the Middle East in hopes of lightening the burdens levied upon the citizens of the United States in difficult times. With a recession threatening, President Bush, currently on a visit to Saudi Arabia, begged oil barons to consider the effects the high prices are having on their consumer base. President Bush argued that the effects of the high price of oil will be widespread, affecting consumers’ ability to purchases in the future if the economy suffers as it has been. Bush asked that OPEC members consider the undue burdens rendered upon their largest consumers, the American populace, when setting new production levels in the coming weeks.

Only time will tell if the supplication of the United States’ Chief Executive Officer will help lighten the load of Americans in the winter months to come. Domestic suppliers of natural gas and oil like Triple Diamond Energy Corp of Texas are doing what they can to provide Americans with fair prices and adequate amounts to keep them warm and satisfied in all seasons.

About the Author: Robert Jent is the president of Triple Diamond Energy Corp. Triple Diamond Energy specializes in acquiring the highest quality prime oil and gas properties. For more information, visit http://www.triplediamondenergycorp.blogspot.com.