The Great Oil Depression
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Title: The Great Oil Depression

Essay Details:

Subject: Technology
Date: May 16, 2012
Level: University
Grade: A
Length: 4 / 1079

Essay text:

The problem seems to only be getting worse. The cost of gas obviously stems from the cost of oil. So who’s to blame for this huge incline in oil prices? In an interview given by Michael Kanell in 2008 he asks this of two reliable sources. The interviewees are William Fisher, Barrow Chair in Mineral Resources, University of Texas at Austin, and Stuart Schweitzer, managing director and global markets strategist for J.P.Morgan Private Bank: “Q: A decade ago, crude oil was roughly $12 a barrel. Now it is selling for more than 11 times that amount. What is the key reason for the change? Fisher: The reality is that this is fundamentally a supply-and-demand situation...

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