Economists Jeff Rubin and James Hamilton say a spike in prices could send the world tumbling back into recession, just as a recovery could begin... they view the current recession as the result of a spike in oil prices, not the collapse in US real estate... they point to several factors - production decline in existing oil fields, economic crisis-triggered slowdown or stop in oil development projects, and general lack of oil industry investment... consulting firm McKinsey & Co says supplies could begin to tighten as early as next year, even if economic growth is weak...Friday, May 29, 2009
Oil Supply Crunch Coming?
Economists Jeff Rubin and James Hamilton say a spike in prices could send the world tumbling back into recession, just as a recovery could begin... they view the current recession as the result of a spike in oil prices, not the collapse in US real estate... they point to several factors - production decline in existing oil fields, economic crisis-triggered slowdown or stop in oil development projects, and general lack of oil industry investment... consulting firm McKinsey & Co says supplies could begin to tighten as early as next year, even if economic growth is weak...
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