EIA foresees grim fuel future

An analysis by the U.S. Energy Information Administration found that several factors may keep crude oil prices high for the foreseeable future – with subtle changes levied by the recently passed energy bill potentially adding to the fuel woes of motorists by next spring. First, the EIA said growth in worldwide petroleum demand is projected to remain robust during 2005 and 2006, although not as strong as in 2004, with growth expected to average about 1.8 million barrels per day – a 2.1% annual average increase compared with 3.2% in 2004. Though this represents a downward revision from ...

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From the Print Issue

November 2009

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