Soaring oil prices push global wealth transfer
Article Abstract:
The world's wealth is getting transferred to Saudi Arabia and Exxon Mobils as worldwide spending on oil products by consumers and businesses is expected to grow in 2004 by about $295 billion, or 27 percent, from 2003. Rising oil costs are linked as much to America's apparent drive-at-any-price car culture and China's raging industrial expansion as they are to the world's unusually low supply cushion.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2004
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Supply fears roil world oil markets: A Saudi promise to pump 1.3 million more barrels a day failed to overcome concerns about disruptions
Article Abstract:
Jitters over potential supply disruptions are dominating the oil markets despite the indication from Saudi Arabia that it could immediately boost daily output by 1.3 million barrels. Light crude dropped as low as $43.30 per barrel but for September 2004 delivery settled at $44.80, up 28 cents on the New York Mercantile Exchange.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2004
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Natural gas inventories at low level
Article Abstract:
The author examines reports of low natural gas inventories and what it could mean to consumers this winter. Topics include falling inventory levels, prices and rates for natural gas, and industry forecasts on future inventory levels.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2003
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