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Global teamwork required if we want to see oil prices down

Record surges in crude prices have propelled the world into an era in which oil may never be cheap again. Instead of presenting its usual united but ineffectual demand for increased oil production to OPEC with the aim of reducing prices, G8 discussions focused on how best to curb demand. picked by chinook 6 months ago

tags oil G8 oil crisis crude oil cheap oil global cooperation

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21	chinook

6 months ago

I personally don't think oil prices are going to go down in the near future. Now that everyone's demonstrated their willingness (albeit with complaint) to pay current prices, oil producing nations as well as oil companies won't need to reduce prices. Add in the fact that the face of India and China are changing and we now have a few billion other people wanting vehicles, and there's ample demand for the black sticky stuff we all know as crude (well, as a hurtin' Albertan I only know dark, sticky crude... the light sweet stuff would be nice to know, though).

Global cooperation to reduce consumption would have two positives, IMO: 1- cheaper gas and 2 - healthier environment.

*Go Nuclear power!! It's clean!*

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