CHUQ
06-25-2007, 11:40 AM
Don't know if anyone has been paying attention about the certain depletion of the black gold reserves.
So are we running out of our ‘black gold’ stocks? This is one of the most vexing questions before a nervous world where the view seems to be gaining ground that oil supplies may dry up in the not-too-distant future. A recent article in the Economist described this concern as “the most powerful threat to oil’s supremacy in a century”. This is hardly surprising considering the idea of oil-starved economies sputtering to a grinding halt has never seemed so alarmingly real before, as the media, books, and movies play it over and over again. The threat of international terrorism; the volatile situation in Iraq; potential instability in the Middle East, Nigeria, and Venezuela; and the confusion following the break-up and forcible re-nationalisation of Russian oil giant, Yukos — all apparently have had a role in pushing up oil prices.
http://www.hindustantimes.com/StoryPage/StoryPage.aspx?id=acf34b1e-8674-429b-a16c-bb307468212d&MatchID1=4486&TeamID1=8&TeamID2=10&MatchType1=1&SeriesID1=1120&PrimaryID=4486&Headline=Oil%e2%80%99s+not+well
So are we running out of our ‘black gold’ stocks? This is one of the most vexing questions before a nervous world where the view seems to be gaining ground that oil supplies may dry up in the not-too-distant future. A recent article in the Economist described this concern as “the most powerful threat to oil’s supremacy in a century”. This is hardly surprising considering the idea of oil-starved economies sputtering to a grinding halt has never seemed so alarmingly real before, as the media, books, and movies play it over and over again. The threat of international terrorism; the volatile situation in Iraq; potential instability in the Middle East, Nigeria, and Venezuela; and the confusion following the break-up and forcible re-nationalisation of Russian oil giant, Yukos — all apparently have had a role in pushing up oil prices.
http://www.hindustantimes.com/StoryPage/StoryPage.aspx?id=acf34b1e-8674-429b-a16c-bb307468212d&MatchID1=4486&TeamID1=8&TeamID2=10&MatchType1=1&SeriesID1=1120&PrimaryID=4486&Headline=Oil%e2%80%99s+not+well