5.10.04

Oil blues

Oil prices broke today magic level of 50 $ a barrel in New York futures market. There's almost certanly continuouse trend of higher oil prices.
Some may argue it is not oil shock, but it's definitive goodbay of cheap oil.
Indeed, by some historical benchmarks, notable oil crisis in 70's, current oil hike isn't as severe.
Many experts and so called "experts" ( me ) ;) now are trying to explain causes and glitches for current situation on oil markets.
IMF said in an official report that higher oil prices are likelly to stay during this decade.
Any prolonged situation of high prices could and will cut economic growth.
Really great article about these issues found in newspaper The Independent written by Bill Robinson who is director of economics at PricewaterhouseCoopers.

1 comment:

Anonymous said...

Hey... Interesting post on voip protocol. By the way... Just found this resource where you can post your own articles on voip protocol - if you have something you want to share with the world. Besides, at the same time you'll get a link back to your own site on anything concerning voip protocol - or whatever else you'd like... why don't you check it out for yourself now...