Report Predicts Sharp Increase In Oil Price By 2010

Canadian firm projects price increases necessary to close gap between supply and demand for oil.

1 minute read

April 21, 2005, 12:00 PM PDT

By Abhijeet Chavan @http://twitter.com/legalaidtech

"The world's growing demand for oil is expected to outstrip the supply in the years ahead. Alternative energy sources are not expected to be available in large enough quantities to fill in the projected energy gap. As a result, the price of oil is projected to increase in order to reduce demand to match supply. This brief report contains annual forecasts of the price of a barrel of oil to the year 2010."

Thanks to Bill Barker, AICP

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Energy Canada

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