Friday, May 9, 2008

Give all the eco-nuts in California a bicycle and maybe the world will go back to normal?

LONDON (Reuters) - From the poorest of Africa to the United States and big business, a breakneck rally that could take oil to $200 a barrel is likely to inflict pain on everyone.

The world was remarkably resilient to a series of record prices in 2007, but a roughly 30 percent rise since the end of last year, with predictions of more to come, is harder to absorb.

"The key issue is the rate of change. The recent exponential rise is unhealthy for everyone," a senior executive from a major oil company said. He declined to be named.

much more here

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