Oil Companies Working for You…Kind of..

The New York Times reports on the mounting difficulties facing oil companies as they attempt to keep up with global demand. Discovery and development technologies to extract oil have tripled since 1999 to $15 a barrel.

Oil prices are only expected to rise in the next 25 years. United States analysts predict that over this period global demand will increase by 50%. As oil becomes more costly to extract and demand rises, the days the cheap gas will be over soon, even if supply remains high.