"The Effects of High-Priced Oil" (NYT)

Two new articles in the NYT today, about the effect high-oil prices are having on geopolitics, and possible long-term concerns re: economic growth:


"The prospect of triple-digit oil prices has redrawn the economic and political map of the world, challenging some old notions of power. Oil-rich nations are enjoying historic gains and opportunities, while major importers — including China and India, home to a third of the world’s population — confront rising economic and social costs."

http://www.nytimes.com/2007/11/07/business/07oilwealth.html?hp=&pagewanted=all


"[T]he International Energy Agency warned that demand for oil imports by China and India will almost quadruple by 2030 and could create a supply 'crunch' as soon as 2015 if oil producers do not step up production, energy efficiency fails to improve and demand from the two countries is not dampened."

http://www.nytimes.com/2007/11/07/business/07cnd-energy.html?pagewanted=all