When tomorrow brings the twilight of oil

The price of crude can only rise while supplies dwindle worldwide

Crude oil has reached a point where the skeptics of yore have become the proselytes of tomorrow, readying the world when crude tops $100 per barrel.

That day is not far away though few saw it coming.

Only just six years back, crude was hawked off for as low as $10 per barrel, when producers pumped out whatever they could for hard currency in the aftermath of a serpentine financial crisis that slithered its way from Mexico to East Asia, emptying national coffers in the process.

The barrel has steadily risen from its Davy Jones Locker to reach the $75 average today. At every stage of the climb – $40, $50, $60 and $70 – threshold limits were tested and passed, industries kept firing on all cylinders, and the global economy remained resilient.

The global economy will still stand if oil reaches $80 next week. We are ready for it; for the climb has been steady and soft, preparing us for the day as if tomorrow never comes.

Korea Herald