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Reading Oil’s Tea Leaves

Posted by Matt in July 30th, 2007

The sharp reality is that oil prices continue to rise and the conventional wisdom says the trend is unlikely to abate (Forbes) anytime soon. Some analysts forecast oil could reach one hundred dollars a barrel (Economic Times) within the year. A recent report from Britain’s Center for Global Energy Studies says that current prices are being driven by a shortage of supply rather than the strength of demand.

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Map for New-Delhi, India

[Countries link to CIA Factbook. States link to Wikipedia.]


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