Posted on 14/08/04
This oil crisis won't end soon -- if ever
The price of oil went through $46 (U.S.) a barrel yesterday, setting another record high. Many energy experts say $50 -- a figure unthinkable only a couple of years ago -- is likely. At least one oil analyst says $100 is possible. In 1998, the price was about $14. In 2002, it was about $27. How did glut turn into shortage so quickly?
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