Anacortes Refinery (Tesoro Corp), on the north end of March Point southeast of Anacortes, Washington. Image credit:Walter Siegmund. Via Wikimedia Commons.From The Washington Times:
Price too low to supply demand over time.
The price of oil soon will soar again. The present price of a barrel of oil, $50 or so, is below the price needed to meet current demand for a sustained period of time, and it is well below the price needed to meet global demand as the world economy rebounds.
In addition, with the U.S. Federal Reserve System greatly expanding the money supply - which will continue because of the explosion in government spending - the dollar is falling against other currencies; and given that global oil is priced in dollars, the price of oil will rise in dollar terms, just as it did two years ago.
Read more ....
No comments:
Post a Comment