Home pagePress CenterIn the Media Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by the San Francisco Chronicle, "Supply-Demand Imbalance Boosts Oil Prices."
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Frank Verrastro, director of the CSIS Energy and National Security Program, was quoted by the San Francisco Chronicle, "Supply-Demand Imbalance Boosts Oil Prices."
Even as the cost of crude oil has soared in recent years, the amount pumped from the ground hasn't.
Worldwide oil production has barely budged, despite record prices. Since the start of 2004, oil's price has gone from $33 per barrel to $132. Production, meanwhile, has risen just 1.8 percent, to 84.6 million barrels per day. [...]
"We're projecting by the end of 2009 we may actually be in a surplus," said Frank Verrastro, director of the energy program at the Center for Strategic and International Studies. Read the article
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