Monday, July 09, 2007

Oil Prices To Rise Significantly?

According to this story, oil prices look likely to rise in the coming few years as demand increases and supply looks tight. Meanwhile, the increased ethanol production that have helped push up food prices look unlikely to make much of a difference. "In its report, the IEA argued that biofuel production would hit 1.8 million barrels by 2012, more than double 2006 levels. However, while supplies of the green fuel are set to surge, it is likely to remain marginal with just a 2% slice of the overall energy market."


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