Surprise, surprise, surprise! It looks like high gasoline prices are here to stay.
U.S. sees tight global oil supplies through 2008
By Tom Doggett
WASHINGTON (Reuters) - Global oil supplies will remain tight through 2008 as demand grows "much faster" than the world's major oil producers are able, or willing, to boost their petroleum output to meet, the U.S. government's top energy forecasting agency said on Tuesday.
The collective oil inventories held by the United States and other industrialized countries will drop to just 49.3 days of...(complete article here).
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