Crude oil prices have risen from under $25 to over $130 a barrel (click images to enlarge). Gasoline prices are headed for $5 a gallon. Is it Peak Oil, speculators, the weak dollar, OPEC, or what?
The lower chart (source, PDF, page 6), by Roger H. Bezdek, co-author of the 2005 "Hirsch Report", shows the impact of demand exceeding supply. Are we there now?
I'll update this post with analyses on different sides.
Wednesday, June 18, 2008
Oil prices
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