FISHSHROD
01-06-2009, 7:33 PM
http://msnbcmedia1.msn.com/i/msnbc/Components/Sources/Art/APTRANS.gif updated 4:55 p.m. ET, Tues., Jan. 6, 2009
HOUSTON - All that money you're saving these days at the gas pump? You might want to put it in the bank.
The same cheap oil that's providing relief to drivers and businesses in an awful economy is setting the stage for another price spike, perhaps as soon as next year, that will bring back painful memories of last summer's $4-a-gallon gas.
The oil industry is scaling back on exploration and production because some projects don't make economic sense when energy prices are low. And crude is already harder to find because more nations that own oil companies are blocking outside access to their oil fields.
Let's get ready for this
:nutkick:
HOUSTON - All that money you're saving these days at the gas pump? You might want to put it in the bank.
The same cheap oil that's providing relief to drivers and businesses in an awful economy is setting the stage for another price spike, perhaps as soon as next year, that will bring back painful memories of last summer's $4-a-gallon gas.
The oil industry is scaling back on exploration and production because some projects don't make economic sense when energy prices are low. And crude is already harder to find because more nations that own oil companies are blocking outside access to their oil fields.
Let's get ready for this
:nutkick: