Oil scene: Uncertainty haunts the energy world

UNCERTAINTY has taken over the energy world. And it is detrimental to every one, be it consumer or producer. The consequences could be horrific. A number of factors are in play. The volatility of oil market pricing is a major issue. After all most producers have a single product economy. With extreme swings in play, they are almost in dark while projecting their long-term incomes and expenses. OPEC (Organization of the Petroleum Exporting Countries) oil producers could lose $4 trillion in revenue between now and 2030, if a UN conference in Copenhagen next month strikes a deal on global warming curbs, the International Energy Agency projected earlier.