Wednesday, January 18, 2012

Mon, 8 Mar 1999

The Economist predicts low oil prices for foreseeable future

DROWNING IN OIL

"WHAT", sneered Abdurrahman Salim Atiqi, Kuwait's one-time oil minister,
"is the point of producing more oil and selling it for an unguaranteed
paper currency?"

The price of oil has fallen by half in the past two years, to just over
$10 a barrel. It may fall further-and the effects will not be as good as
you might hope.

Yet here is a thought: $10 might actually be too optimistic. We may be
heading for $5.


http://www.casi.org.uk/discuss/1999/msg00181.html
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