The Oil Drum

This is another press release about $100 barrel oil. It is fairly similar to the one we sent out in January when oil hit an intraday high of $100 barrel. Feel free to send copies of it to folks you know, and to link to it in your web sites. If you know any newspaper people to send it to, that would be especially good.

The price for West Texas Intermediate (WTI) oil closed above $100 for the first time on February 19, 2008. "Rising oil prices have been giving a clear signal of pending shortages for over five years now," according to TheOilDrum.com. By ignoring this signal, world leaders are steering the world toward an energy disaster characterized by shortages, high energy prices, inflation, civil unrest and famine.

Link to data for graph

http://www.prweb.com/releases/peak/oil/prweb635891.htm

We would appreciate your spreading this around to interested parties. Thanks much!

The price for West Texas Intermediate (WTI) oil touched $100 on January 2, 2008, a new milestone. According to TheOilDrum.com, WTI oil price has been giving a very clear signal of pending shortage for over five years now, and in breaching the symbolic $100 a barrel mark, continues to do so. Those driving the world economy have steadfastly ignored this red warning light. In doing so, they are steering the world toward an energy disaster characterized by shortages, high energy prices, inflation, growing inequity, civil unrest and famine.

Data for graph (PDF warning).