Saw this on EV World about surging demand of oil and thought it was interesting.
Oil prices could rocket to $100 within six months, plunging the world into an unprecedented fuel crisis, controversial Texan oil analyst Matt Simmons has warned.
Although, after crude surged through $60 a barrel last week, nervous investors were pinning their hopes on a build-up in US oil-stocks to depress prices in the coming months.
As a result, OPEC producers held emergency talks last week to consider making their second 500,000 a barrel increase in production quotas. Yet, the discussions suspended last Thursday after prices dipped back below $60.
For the entire story at http://www.guardian.co.uk/business/2005/jul/03/oilandpetrol.news
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