Gas & Oil News

"Pandora's Box Has Been Opened!" Twelve days ago on March 24th, I expressed a deep concern about what will happen, to crude oil prices, when Nations realized their need to develop "Strategic Oil Reserves"! That time has come and it has arrived way sooner than I thought it would! At this point in time, I can see nothing on the horizon that will detour a hyper price spike in the cost of crude oil. This is what I stated on March 24,2005, "To try to understand why oil prices are so volatile, may better be understood by asking the question, “Why are the powers that be, buying more oil than they are actually consuming?” The reality of the oil (Supply & Demand) situation is that there is enough to go around right now. The World is at equilibrium! The underlying fear of a major disruption, caused by an act of terrorism or a natural disaster, is creating a need. A need for nations to build up a Strategic Reserve of oil!"
I am extremely concerned on what is about to happen to the "Global Economy"!
Davitte’ Lanier
Petroleum Industry Analyst

Crude oil prices smash through $58By Peter GarnhamPublished: April 4 2005 08:16 Last updated: April 4 2005 17:41http://news.ft.com/cms/s/0648ff3a-a4d9-11d9-8616-00000e2511c8.html