Back in early April, I wrote a story pointing to the potential for another spike in petroleum prices, which could kick-in about the same time an economic recovery sets in. The reason for that spike: During the recession, many oil companies have greatly reduced research and development. When consumers start spending again, demand for petroleum could go up quickly… and the absence of new source development could result in an inability to supply that demand.
Recently, CBS News ran a story that sheds more light on this possibility. See below (commercial pre-roll required).
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