Michele Kearney's Nuclear Wire

Major Energy and Environmental News and Commentary affecting the Nuclear Industry.

Tuesday, May 15, 2012

The IMF are Warned that Oil Prices Could Double by 2022

The IMF are Warned that Oil Prices Could Double by 2022

Despite crude oil already trading on the world markets at a historically high level of $113 a barrel, the International Monetary Fund (IMF) has been warned by its internal research team that in the next decade oil prices could climb to a permanent level double that which we are experiencing at the moment.The increase could have a dramatic effect on global trade of all kinds, as the report, entitled The Future of Oil: Geology v Technology, warns that the prices will be “uncharted territory for the world economy, which has never experienced…Read more...

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