Monday, July 04, 2005

Oil price,6903,1519745,00.html

Heather Stewart, in the 3 July 2005 Observer, writes that Texan oil analyst Matt Simmons believes 'oil prices could rocket to $100 within six months'.

Simmons has produced a book in which he argues that Saudi Arabia is running out of oil, and further price rises are inevitable as supplies decline. He warns that the scramble for resources could lead to war.

According to the Economist Intelligence Unit, oil prices will peak by the end of this year, and decline by 10 per cent in 2006 as the Chinese economy slows.

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