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2000s energy crisis


What is ENERGY CRISIS? What does ENERGY CRISIS mean? ENERGY CRISIS meaning, definition & explanation


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The Energy Crisis


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A Crisis of Energy

From the mid-1980s to September 2003, the inflation-adjusted price of a barrel of crude oil on NYMEX was generally under US$25/barrel. During 2003, the price rose above $30, reached $60 by 11 August 2005, and peaked at $147.30 in July 2008. Commentators attributed these price increases to many factors, including Middle East tension, soaring demand from China, the falling value of the U.S. dollar, reports showing a decline in petroleum reserves, worries over peak oil, and financial speculation.
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    • New inflation-adjusted peaks 

    • Possible causes 

    • Effects 

    • Forecasted prices and trends 

    • End of the crisis 

    • Possible mitigations