Even though we saw US$96.65 (9Nove2007)for oil, in real terms, the price is not an all time high as its still below its all-time inflation-adjusted high of US$101.70 back in April 1980.
However, Crude has climbed 47.3% over the past 52 weeks, and since 2001, it is up 511%, from US$18 to US$96.
We have examined the reasons why & potential ramifications, here's a repeat:
a) Increasing Global Demand:
Booming growth in China and most of Asia-Pacific. Add India, Korea, Russia, Brazil, and Australia to the equation as well.
Even old E.U. is moving in the right direction.
By Salvatore_Dali
2007-11-10
Oil Prices & Ramifications(1)
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment