Price petrodollars - the deficit and speculation

Oil Resursy02-06-2008 Price petrodollars - the deficit and speculation The world community is concerned about oil prices sky-high records which inflict a heavy blow to world economic growth and inflate the cost of food. Is there a way out of this situation? Experts believe that even the biggest oil producers can not reduce the price or stop the growth of prices for "black gold", because the resource is exhausted. Today, British Prime Minister Gordon Brown urged the Group of Eight »(G8) to fight together with the growth in world oil prices, put pressure on oil-producing states. According to Mr. Brown, they should increase production. This is an interesting statement, because of the "Big Eight" includes Russia, which is among the world's leading oil exporter. With the same spirit appears and U.S. Treasury Secretary Henry Paulson, who is trying to convince the government of Saudi Arabia, Qatar and the UAE is that too high oil prices negatively affect global economic growth. But only if oil exporters are responsible for the high cost of "black gold"? Remember, this debate is taking place against the background of the stabilization of oil prices at $ 125 per barrel. And the events that have raised the bar so high prices per barrel, far from the growth dynamics of oil production. Explosions at oil facilities in Nigeria and the threat of hurricanes in the Gulf of Mexico are stronger than political statements.