Crude Cassandra

Helman, Christopher
March 2009
Forbes Asia;3/2/2009, Vol. 5 Issue 3, p28
The article focuses on the petroleum industry. The Ukraine-Russia gas tiff is a first taste of the transnational energy disputes to come. Crude climbed to $147 a barrel last year, but prices have since fallen 75%. OPEC has slashed output and oil companies are laying off workers. According to the U.S. Department of Energy and the International Energy Agency, non-OPEC output appears to have peaked in 2006 at just above 51 million barrels per day (bpd), and fell below 50 million in 2008.


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