Oil prices at record levels

Serious oil shortage is to be expected in years to come.New oil price record (more than $134 for barrel, 05/22/2008, New York Mercantile Exchange - NYME) has been set after US government confessed decrease in crude oil and gasoline stockpiles last week, surprising analysts who were expecting an increase. U.S. Energy Information Administration said that crude stocks fell by 5.4 million barrels

Posted in: non-renewable energy,oil