Tag archive for ‘World Oil Production’
Gone with the Wind? Pickens’ plan for America.
America is facing a serious long-term energy crisis. The price at the “pump” that people are so traumatized by is really the short-term symptom of a longer term problem. As the largest of the two “third world” nations industrialize, India and China, billions of people are rapidly increasing in their wealth, standard of living, and [...]
FT: Oil Shortage Fears drive futures near $140
Fears of a shortage within five years propelled long-term oil futures prices to almost $140 a barrel, further stoking inflationary pressures in the global economy.
The spot price of Nymex West Texas Intermediate hit a record $130.30 a barrel on Wednesday. On Tuesday investors had rushed to buy oil futures contracts as far forward as December [...]
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