Consequences of a high oil price A scenario picturing the effects on society with an oil price at $300/barrel in the year 2015
Since 2001 there has been an increase in oil price and unlike other times there is nothing indicating a major persistent decline. As oil is a limited resource and since current production capacity can not fully meet the growing demand the price on oil is kept high. A high oil price will not only result in higher price on fuel and thereby a higher cost of transport. It will also affect areas such a