Oil At $80 Per Barrel?

Jan. 13, 2005
By John S. McClenahen Stressing that his calculations are not a forecast, Philip K. Verleger Jr., a senior fellow at the Institute for International Economics, Washington, D.C., figures that crude oil prices could rise to "perhaps $60" a barrel by next ...
ByJohn S. McClenahen Stressing that his calculations are not a forecast, Philip K. Verleger Jr., a senior fellow at the Institute for International Economics, Washington, D.C., figures that crude oil prices could rise to "perhaps $60" a barrel by next summer and "as high as $80" per barrel in 2006. Such prices levels would depend on whether or not "shortage conditions" exist, situations which Verleger defines as times when the global demand for oil cannot be satisfied at then-current prices. "Circumstances [for an increase] are favorable, but that is all that can be said," he emphasizes.

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

How Organizations Connect and Engage with Frontline Workers

June 14, 2023
Nearly 80% of the 2.7 billion workers across manufacturing, construction, healthcare, transportation, agriculture, hospitality, and education are frontline. Learn best practices...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!