"Most forecasts made by experts and institutes like the International Energy Agency, the US Department of Energy and the World Bank for 2010 were in the narrow range of $20 to $30 per barrel." (IndiaInteracts.com)
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"Crude oil prices jumped on Monday to a fresh record high of almost $140 a barrel after the US dollar fell and news about a possible Saudi Arabia’s oil output increase were overshadowed by fresh disruption in the North Sea oil production. In early trading in New York, West Texas Intermediate crude oil jumped to $139.89 a barrel, above the previous record of $139.12 set in early June." (Today's FT)
1 comment:
It's not good is it, considering that basically everything we take for granted today has been developed and manufactured while we were swimming in cheap oil.
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