Archive for 'Black Gold' Category
Long-Term Demand for Energy
By admin - Last updated: Friday, May 25, 2012
Global economic growth is the major force behind the demand for energy. The globalization trends are strongly in place. The global economy will likely grow 4% in 1997 versus 2.6% in 1996. In the U.S., recent unemployment numbers have pointed to above-average growth. Japan’s GDP rose at a 12.7% annualized rate in the first quarter, [...]
The Beginning of Oil Trade
By admin - Last updated: Monday, May 7, 2012
In August 1990, President Bush ordered American soldiers to Saudi Arabia to deter the military takeover by Iraq of the world’s major oil exporter. As Americans sat transfixed to their televisions, the price of oil on the international market surged upwards. Gasoline prices in the U.S. soon followed. As the troops shipped out, the popular [...]