Saturday August 27, 2005

BBC : Has oil production peaked?

bbc.co.uk :

Oil prices have reached a record $68 per barrel, as demand rises and concerns are voiced about disruptions to supply. The latest rise came as the US reported a fall in gasoline stocks, while China said its crude imports had risen sharply.

Protests in Ecuador and Nigeria have affected output in recent weeks, and bad weather may disrupt production in Mexico and the North Sea. There is also concern that supplies from Iraq will be affected by arguments over the country's constitution.

The director of the International Monetary Fund, Rodrigo Rato, says Asian economies are at risk from the high oil price.

Has oil production peaked? Will prices rise again? How will the global economy be affected? Have you stopped using your car since petrol prices went up?

See also :

1. OPEC Reveal Global Light Sweet Crude Peaked
2. Big Oil warns of coming energy crunch
3. 'Peak oil' enters mainstream debate - BBC

(2005-08-27 19:32:21 SGT) [Energy] Permalink

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