Britain's Sunday Independent notes here that the US led invasion of Iraq has tripled the price of oil, according to a leading expert, costing the world a staggering $6 trillion in higher energy prices.
Oil economist Dr Mamdouh Salameh, who advises both the World Bank, told The Independent on Sunday that the price of oil would now be no more than $40 a barrel, less than a third of the record $135 a barrel reached last week, had it not been for the Iraq war.
Goldman Sachs predicted last week that the price could rise to an unprecedented $200 a barrel over the next year, and the world is coming to terms with the idea that the age of cheap oil has ended, with far-reaching repercussions on their activities.
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2 comments:
So you are saying that Brad Wall should be putting G Dubya at the top of his BFF list?
ie "it worked"
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