Oil Strikes Again; This Time, High Energy Costs Have the Potential to Bite Oct 00
- ID: 1834883
- October 2000
- Standard & Poors
With oil prices soaring to their highest levels in 10 years and the average annual price of crude now running at a 15-year high, many of the real economic effects being felt are understandably negative. And despite the Administration's decision to increase daily global oil supplies by 1.3% for 30 days, there is likely to be little long-term change in supplies and prices moving forward. For a long time there has been concern about rising debt, asset price bubbles, and unbridled consumption. Until now, however, there had not been a catalyst sufficient to trigger all the many risks that lay dormant in the U.S. economy. Many had been expecting the Asian market crisis and Russian debt default to trigger a...
Companies mentioned in this report are:
- Las Vegas
- Salt Lake City
- Fort Worth
- Denver & Rio Grande Western Railroad Co.
- Russian Federation
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