A very informative article from the New Yorker
If speculators aren't at fault, why have oil prices spiked so high? Fundamental reasons aren't hard to find. Between 2000 and 2007, world demand for petroleum rose by nearly nine million barrels a day, but OPEC has been consistently unable, or unwilling, to significantly increase supply, and production by non-OPEC members has risen by just four million barrels a day. The prospect of military action against Iran, which would disrupt global supply, seems greater than it did a few years ago. And the plunging value of the dollar has meant that the cost of oil has jumped more in the U.S. in the past year than it has in countries with healthier currencies.
Now can we get serious about an Electric car? Bring back the EV1 (guess you shouldn't have crushed them)
No comments:
Post a Comment