Cartoons on rising oil prices

Hi

here are some cartoons which i found interesting.


As the third world countries develop, their demand for oil will increase as well. However, as this cartoon points out, the increase in demand for oil by these countries are driving the oil prices higher (as claimed by America). In my opinion, the demand from the thrid world countries is not as great as the demand from other developing countries such as China, India. The demand for oil from these 2 countries probably have a greater impact on oil prices than the demand from third world countries. It is important to note that there are other factors which escalate the oil prices, such as decrease in supply etc. (for more info, look at the previous article review i did on rising oil prices)


this cartoon is kind of funny. in the sense that while consumers are having a difficult time trying to cope with the rising oil prices, the oil companies are really REAPING BIG $$$. i am not exactly sure if it's really true that oil companies are reaping huge profits. but given that the demand for oil is price inelastic and that the oil prices are rising, the total revenue for the companies will increase. however, to determine if they are making supernormal, normal, or even subnormal profits, we still need to know their total costs.

hope that was easy to understand. btw, i got the cartoons from this website: http://www.cagle.com. there are more econs cartoons on recession etc. do check them out =)

Cheers,
Mui Suan