Going Green

Wednesday, October 17, 2007

$100 Oil??

OK, let's all say "demand and supply."

What is driving oil prices so high?

Oil prices have surged to record highs above $88 a barrel.

Prices have more than quadrupled since 2002 and are currently 40% higher than at the start of the year.

What factors are causing this unremitting increase and what are the likely consequences for consumers and the global economy?

Why is causing the latest price spike?

This has been triggered by simmering tensions between Turkey and Kurdish separatists in northern Iraq.

Analysts are worried about the consequences of possible incursions by Turkish troops...(complete article here).

1 comment:

bigwhitehat said...

The oil market is so antsy.

Any little concern turns into a major scare.