Imagine: 500 Miles Per Gallon

Imagine: 500 Miles Per Gallon

THE MOST IMPORTANT STATEMENT MADE LAST WEEK CAME not from Vladimir Putin or George W. Bush but from Ali Naimi, Saudi Arabia's shrewd oil minister. Naimi predicted that crude prices would stay between $40 and $50 throughout 2005. For the last two years OPEC's official target price has been...

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Veröffentlicht in:Newsweek 2005-03, Vol.145 (10), p.27
1. Verfasser: Zakaria, Fareed
Format: Magazinearticle
Sprache:eng
Schlagworte:
Alternative energy sources
Automobiles
Crude oil prices
Energy efficiency
Ethanol
Hybrid vehicles
International relations-US
Naimi, Ali I
Petroleum industry
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Zusammenfassung:THE MOST IMPORTANT STATEMENT MADE LAST WEEK CAME not from Vladimir Putin or George W. Bush but from Ali Naimi, Saudi Arabia's shrewd oil minister. Naimi predicted that crude prices would stay between $40 and $50 throughout 2005. For the last two years OPEC's official target price has been $25. Naimi's statement signals that Saudi Arabia now believes that current high prices are not a momentary thing. An Asian oil-industry executive told me that he expects oil to hit $75 this decade.
ISSN:0028-9604
1069-840X