"Oil is far too cheap at the moment"

Discussion in 'Politics & Current Events' started by Frankfurt Blue, Jun 7, 2004.

  1. Frankfurt Blue

    Sep 3, 2003
    Doytshlund
    This is worrying. The Western economies are built with heavy dependency on oil. Add the rapidly growing wealth of China and India, the oil reserves could be under strain. Check the link out:

    http://news.bbc.co.uk/1/hi/business/3777413.stm

    "The figure I'd use is around $182 a barrel. We need to price oil realistically to control its demand. That is because global production is peaking." - Matthew Simmons, ASPO.


    ...I'm off to sell my car! Well, maybe tomorrow.
     

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