The Sydney Morning Herals speaks of the new world order created by oil prices.
QUOTE("Sydney Morning Herald")
Oil price creates a new world order
Email Printer friendly version Normal font Large font Mark Landler
November 8, 2007
AS the price of oil surges above the symbolic milestone of $US100 ($106) a barrel - with Malaysia's TAPIS crude hitting $US100.54 yesterday - it is creating new winners and losers across the globe.
In southern China, high oil prices forced Wang Pui, a truck driver, to wait in line 90 minutes the other day to fill up, just to be told he could pump only 98 litres, as China faced spot shortages of petrol and diesel.
When Vladimir Putin was making Russia's bid to be host of the 2014 Winter Olympics last July, he reached into the country's deep pockets, bulging with oil profits, and pledged $US12 billion to turn a Black Sea summer resort into a winter-sports paradise. Russia, which was nearly bankrupt a decade ago, won the Games.
Read more int the Sydney Morning Herald
Email Printer friendly version Normal font Large font Mark Landler
November 8, 2007
AS the price of oil surges above the symbolic milestone of $US100 ($106) a barrel - with Malaysia's TAPIS crude hitting $US100.54 yesterday - it is creating new winners and losers across the globe.
In southern China, high oil prices forced Wang Pui, a truck driver, to wait in line 90 minutes the other day to fill up, just to be told he could pump only 98 litres, as China faced spot shortages of petrol and diesel.
When Vladimir Putin was making Russia's bid to be host of the 2014 Winter Olympics last July, he reached into the country's deep pockets, bulging with oil profits, and pledged $US12 billion to turn a Black Sea summer resort into a winter-sports paradise. Russia, which was nearly bankrupt a decade ago, won the Games.
Read more int the Sydney Morning Herald
Forbes reported this morning on the numbers released by the Energy Department's Energy Information Administration that crude inventories have fallen for the week ending 2 November.
