Higher oil prices are starting to
havoc far beyond the petrol bowser. Slowly but surely, the rise in the
price of oil is pushing up inflation and interest rates and affecting
people's spending habits and share markets.
Where the price of oil is headed is anyone's
guess. But predictions
for the short term outlook range from the current level of around $74
to $100 a barrel by the end of the year before a possible retreat.
the outlook for oil prices comes down to supply and demand. With global
production capacity at a very low excess (about 2 million barrels a
day) and China ready to buy any oil there is, there is no shortage of
Couple that with the problems facing most of the
producing areas -- Nigeria, Venezuela, Russia, Middle East and the Gulf
of Mexico -- the price of oil is not expected to retreat in the near
Source: CCN News.
So we need
an alternative source in order to survive. Have you ever
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