Refining moment

Article Abstract:

The price of crude oil has nearly doubled in the past few years leading to an oil shock and might be recession going by previous records but contrary to this global growth is well ahead of the long-term average. The reason behind this hike is constraint in refining capacity due to varied regulations in the purity of oil and there is no short-term solution, increase in consumer demand and also as no new refinery is built for the past many years but there is still some hope regarding the oil shock.

Australia, Commodity & service prices, Petroleum Refineries, Petroleum Refining, Refinery Processes NEC, Prices and rates, Company pricing policy

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Pump stakes

Article Abstract:

The rise of prices of oil, over three years from 2002 to 2005 is being driven to a significant degree by increased demand from Asia, most significantly China. It is believed that with a 2 percent annual rise in demand, if the energy efficiency in the developing nations moved towards the existing level in developed ones, then current oil reserves would be exhausted in 2044.

China, Crude Petroleum and Natural Gas Extraction, Crude petroleum and natural gas, Asia, Crude Petroleum & Natural Gas, International aspects, Petroleum industry, Petroleum reserves

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Blood, oil & Iraq

Article Abstract:

Protestors believe that America's war against Iraq is for acquiring Iraq's vast oilfields and reserves. American president George Bush confirmed the continuation of Iraq's oil revenue to be funneled through the United Nation Oil-for Food Program.

United States, Iraq, Economic aspects, Influence, United States foreign relations, Natural resources, Strategic aspects, Iraq War, 2003-

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