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Commodities Briefing - Categorized | Energy, Oil, Price Watch more

Oil prices prompt search for fuel alternatives

Posted on 03 February 2009

From FT: Cost pressures on military budgets, caused in part by last year’s rocketing oil prices, are pushing the UK and other leading powers to consider alternative fuels and propulsion technologies.

Fuel costs accounted for $17bn of the combined budget for the world’s top 20 military spenders last year, and the sharp increase in the price of oil added $6bn to the bill, according to estimates in a Jane’s Industry Quarterly study last month….. Full Article: Source


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