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Direct linkMcPherson, Guy R.; Weltzin, Jake F. – Bulletin of Science, Technology & Society, 2008
The world passed the halfway point of oil supply in 2005. World demand for oil likely will severely outstrip supply in 2008, leading to increasingly higher oil prices. Consequences are likely to include increasing gasoline prices, rapidly increasing inflation, and subsequently a series of increasingly severe recessions followed by a worldwide…
Descriptors: Fuels, Current Events, Economic Climate, Supply and Demand
