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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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Message: So why is Oilbbl on the rise?

Re: So why is Oilbbl on the rise?

posted on Jun 04, 2009 08:46AM

reading the article below I can find no reason why Oil should rise the auther seems to think a drop in unemployment numbers is reason enough "duhhh"the rest of the article gives enough reason on why Oil should drop,IMHO we are seeing Peak Oil or at least the lack of infrastructure spending ie lack of rigs,exploration ,production increase,it just may be another theory whereby a higher price will encourage less use,in case some doubt this will work Nova Scotia Light and Power is proposing just this as they look to charge Consumers a$1 a month extra to encourage less consumption and therefore less dependance on Coal and Oil,hey if this means a higher bbl price I'm all for it??

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