onsdag 28 september 2011

Hess Predicts Oil Shock If Supplies Don't Rise

“An energy crisis is on its way and it’s likely to be triggered by oil,” said Hess, chairman since 1995 of the New York-based independent driller and refiner. “$150-a-barrel oil was a warning.”

Recession fears and a slowing global economy have helped push oil prices down to $86 a barrel from over $100 in May. But don’t be lulled into thinking it’s 2009 all over again, Hess said. Global oil demand fell by 2 million barrels a day in the depths of the financial crisis, he said, while today, demand in the industrialized world is down only slightly and emerging markets are continuing to grow.


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