Muzammel Huq

Is the world running out of oil?

Although the world will not run out of oil tomorrow, the world is nearing the end of what might be called the easy oil. Even in the best of circumstances, the oil that still remains will be more costly to find and produce and less dependable than the oil being used today. This fact means not only higher prices, but also more volatile prices.

November 8, 2004

The future of energy security

In the aftermath of 9/11, fears of global oil disruption sent prices up by nearly 30 percent to over $30 a barrel. During June/July 2004, the price of oil hovered around $40 a barrel. During September/October the price of oil rose to $50 a barrel, and the high price will remain for the rest of the year. By December 2005, the price of oil is likely to reach $80 a barrel. Growing demand of China and India will be the main cause of this price spike.

October 25, 2004

Leave a Comment