why oil prices are bound to rise

->>> read the full article  “Crude Oil Price Chart 1998 – 2009: Facing the inevitable – oil prices are bound to rise” on my new blog or download the oil price chart.

CRUDE OIL PRICES by the WHAT MATTERS WEBLOG, 1998 - 2009, monthly averages, data by the EIA, updated may 16,2009

  • Growing industrialization in BRIC (Brazil, Russia, India, China) nations has pushed energy demand to record levels. Future growth in emerging countries will continue to drive up global energy demand.
  • The price mechanism doesn’t work for oil. High oil prices don’t necessarily curb demand.
  • Peak Oil is ahead
  • 95% of oil reserves are controlled by state-owned, inefficient oil companies

for further reading:

IEA: Oil supply crunch and mega-recession by 2013

it’s time to become energy independent, overhaul the entire economy and infrastructure

Oil & Gas NEWS mixed天上的馅饼 – Free Lunch

The Post-American World, China and the global economy

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