21.11.2008 - Energy industry headed for a bigger crisis
From Arab News: Oil markets are facing a major slump for a number of reasons and continue to stream further down. As I write these lines, prices are already in the vicinity of $50 a barrel. Rather than seeking a ceiling, crude markets now appear looking for a floor somewhere at respectable levels. What a transition indeed. And indeed this transformation is not without ramifications, of considerable magnitude, one can easily deduce. Crude markets have entered a phase where, due to low prices, the incentive to invest in the industry is getting less and less..... Full Article: Source
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