The cold war for oil

World prices of oil and gas are showing a steeply rising trend. According to Matthew Simmons, a former White House energy adviser, the price of a barrel of petroleum may rise as high as $ 200 to $ 250 in the coming years from the present price of only $ 78. Such an extreme increase in price of oil and gas would unhinge the world economy and spell ruin for large corporations.

In 2005, earth

The very large shortfall in the supply of oil is creating new alliances and the dangers of fresh conflicts. China is moving aggressively to meet its steadily growing appetite for energy and potentially setting up a confrontation with USA for controlling the dwindling resources of the Middle East and Africa.

Basically, the crisis situation in supply of oil and gas is due to the conflicts in Nigeria, Russia, Iraq and Iran.

Organiser