Before the credit crunch took a massive bite out of global economic activity, oil prices were heading skyward, and fears that supplies might actually run out were rampant. New research from consultant Mckinsey's global energy and materials division warns that the coming economic recovery will generate renewed imbalances between supply and demand and, sometime between 2010 and 2013, will force oil prices up sharply. McKinsey warns that unless action is taken to reduce energy-demand growth, spare capacity in the oil sector could return to the low levels witnessed in 2007.
NEW OIL SHOCK ON THE HORIZON Anita Hawser Global Finance; Jun 2009; 23, 6; Docstoc pg. 8 Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
Pages to are hidden for
"NEW OIL SHOCK ON THE HORIZON"Please download to view full document