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World Crisis scenarios for the 21st century – Peak Oil. (update 8)

Posted by Adrian on February 19, 2008

Oil reached new highs of $100.10 (a barrel) on close of trading on the NYMEX. As I believe, amongst others, oil will begin to trade from the $100.00 range. With dips under $100.00 becoming rarer. There is speculation that with the global slow down, especially in the US, oil will decline in price. I can’t really see that, if we are going to see lows they will be seen in the $95.00 to $98.00 range. Now with OPEC cutting output, the apparent reason is the idea to lower costs; or maybe shortage problems? There is just so much in the mix, the reality of the peak oil situation, increased refinery costs, geopolitical disputes (over costs), inter company disputes (over costs) and prolonged middle eastern conflicts.

World Crisis scenarios for the 21st century – Peak Oil. (update 8 )

Note the light crude graph, with record high of $100.10 a barrel

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Article: Oil hits record over $100 on OPEC supply concerns

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One Response to “World Crisis scenarios for the 21st century – Peak Oil. (update 8)”

  1. […] by Adrian on February 29, 2008 World Crisis scenarios for the 21st century – Peak Oil. (update […]

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