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OPEC members at this time "pledged to cut back the supply of crude and push oil prices higher." (Business Week, 48) The results were better than most expected: crude oil prices were almost $27 a barrel on November 23, 1999, the highest price since the 1991 Gulf War. (Business Week, 48) The demand for oil is outpacing current supply by 2.8 million barrels, causing some in Congress to push for relief by tapping into the Strategic Petroleum Reserves. (Business Week, 49) The rapid increases in prices have had a welcome effect on "Big Oil", however. Companies such as BP Amoco, Chevron and Royal/Dutch Shell Group have posted 15% increases in earnings (Business Week, 49) This trend is expected to continue, with L Bruce Lanni, an analyst at CIBC World Markets Inc...
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Common topics in this essay:
- AGGREGATE DEMAND AND SUPPLY
- Aggregate Demand And Supply
- Crude Oil and Prices: OPEC needs to be shut down!
- Got Those OPEC Blues Again And Rational Exuberance
- High Pump Prices: Oil Demand and Supply Factors
- Rational Decision Making Model
- rational decision making model
- The Impact Of Rising Oil Prices On The South African Economy In Relation To The Demand And Supply Of New Motor Vehicles
- The Supply And Demand Of Energy And Oil
- teen depression resulting in alcoholism
- got Those Opec Blues Again" And "rational Exuberance
- Actions Of The Government And The Increase In Prices
- Rational Decision Making
- rational decision-making model.
- The US should substantially increase their use of nuclear energy
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