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Shadowed by $200 oil
Loren Steffy, Houston Chronicle
It’s not too early to talk about the prospect of $200 oil.
That may sound crazy, because crude is trading more than $100 a barrel below its highs from the summer, when it peaked at $147.
I recently spoke to a group of local energy economists, though, and they weren’t worried about how low prices would go, but how high.
The market, too, is more focused on how much prices will rise in the coming year.
(20 December 2008)
Channel 4 News interview: London oil summit
David Strahan, Last Oil Shock
My interview on Channel 4 News on 19 December, about the London oil summit, can be seen by following the links below.
Click on the link below to Channel 4’s site. Then click on ‘Missed the Show?’ on the right hand side, and then choose ‘Fri 19 Dec News at Noon Pt 1’. The segment starts about 1 minute into the programme.
(19th December 2008)
Please go here to actually start the player. You then need to click on Friday Dec 19 from the menu along the top of the right side, then choose Friday 19 Dec new at Noon Pt. 1. KS .
Over a barrel
Ed Crooks, Financial Times
The plunging oil price is like a dangerously addictive painkiller: short-term relief is being provided at a cost of serious long-term harm.
It took more than four years for oil to go from $35 per barrel in 2004 to over $147 in July 2008, and less than six months to fall all the way back again.
For hard-pressed businesses and consumers in the US, Europe and other oil importers, the price collapse has been one ray of light in an increasingly gloomy economic outlook.
But it has also caused a seismic shock to the energy industry worldwide, re-shaping it in ways that will often be unwelcome for oil consumers.
(22 December 2008)