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What Is Driving the High Oil Prices?

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Publication Date: June 2008

Publisher(s): Heritage Foundation (Washington, D.C.)

Author(s): Owen Graham; Ariel Cohen

Series: WebMemo

Topic: Energy (Petroleum industry)

Keywords: national oil companies; energy producers; national energy policy; Energy and environment

Type: Brief

Abstract:

As oil and gasoline prices surpass $134 per barrel and $4 per gallon, respectively, it is clear that significant change is underway in global energy markets, portending major challenges for the global economy and energy security.