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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| description | 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. |
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| source | Business Source Complete; Periodicals Index Online |
| subjects | Alternative energy sources Automobiles Crude oil prices Energy efficiency Ethanol Hybrid vehicles International relations-US Naimi, Ali I Petroleum industry |
| title | Imagine: 500 Miles Per Gallon |
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