This week, readers are looking for honest answers on the reasons behind the recent spike in oil prices. Some may not like what they hear, but we'll give it a shot.

Let’s be honest. We all know that the oil market is being manipulated to drive up the price and profit for oil companies. … Do you think anybody in DC will do anything or are they just too busy cashing those lobbyists’ checks to keep the unimaginable profits rolling in?


The honest answer is the reason oil prices keep setting records is that demand for fossil fuels is growing faster than the world’s oil producers can find new sources to satisfy that demand and replace the oilfields that are used up. A lot of readers don't like that answer, but it's the truth.

Prices of commodities in limited supply — gold, corn, Hannah Montana tickets on eBay — are set by the market, not the producer. The latest price is set by the last buyer, often represented by those folks waving their hands around and screaming in the trading pits, based on what the buyer is willing to pay for it. If a producer decided to ask for, say, $125 a barrel when the market price was at $100, why would anyone pay that price?