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Topic: 1990 spike in the price of oil

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	Incredible Charts: Gold-Oil Ratio
		Gold and crude oil prices tend to rise and fall in sympathy with one another.
		As oil prices rise, much of the increased revenue is invested as it is surplus to current needs -- and much of this surplus is invested in gold or other hard assets.
		This was followed by another spike in 1978 at the time of the Iranian revolution, culminating with the subsequent invasion by Iraq and the start of the Iraq-Iran war.
	www.incrediblecharts.com /economy/gold_oil_ratio.htm (520 words)

	Oil price increase of 1990 - Wikipedia, the free encyclopedia
		(Redirected from 1990 spike in the price of oil)
		As Saddam Hussein retreated, the oil fields of Kuwait were set on fire, causing damage that reduced the oil output until repairs could be performed.
		OAPEC decided that since the oil production in the Kuwait are was falling, that they would increase their oil supply and stabilized the oil market.
	en.wikipedia.org /wiki/1990_spike_in_the_price_of_oil (154 words)

	Discover the Wisdom of Mankind on oil prices (Site not responding. Last check: 2007-11-01)
		Oil extraction is costly and sometimes environmentally damaging, although Dr. John Hunt from Woods Hole pointed out in a 1981 paper that over 70% of the reserves in the world are associated with visible macroseepages, and many oil fields are found due to natural leaks.
		It is often claimed that OPEC sets the oil price and the true cost of a barrel of oil is around $2, which is equivalent to the cost of extraction of a barrel in the Middle East.
		This means that the relationship between the oil price and global growth is not particularly stable although a high oil price is often thought of as being a late cycle phenomenon.
	www.blinkbits.com /blinks/oil_prices (4945 words)

	1973 oil crisis Summary
		This increase in the price of oil had a dramatic effect on oil exporting nations, for the countries of the Middle East who had long been dominated by the industrial powers were seen to have acquired control of a vital commodity.
		The price rises had a much greater impact in Europe than the embargo, particularly in the UK (where they combined with industrial action by coal miners to cause an energy crisis over the winter of 1973-74, a major factor in the breakdown of the post-war consensus and ultimately the rise of Thatcherism).
		The Soviet economy had stagnated for several years and the increase in the price of oil had a beneficial effect, especially after the bloc's internal terms of trade were adjusted to reflect the increased value of Russian oil.
	www.bookrags.com /1973_oil_crisis (4883 words)

	Petroleum information - Search.com
		Oil extraction is costly and sometimes environmentally damaging, although Dr. John Hunt of the Woods Hole Oceanographic Institution pointed out in a 1981 paper that over 70% of the reserves in the world are associated with visible macroseepages, and many oil fields are found due to natural leaks.
		The oil is landed at Sullom Voe terminal in the Shetlands.
		The price of a barrel of oil is highly dependent on both its grade (which is determined by factors such as its specific gravity or API and its sulphur content) and location.
	www.search.com /reference/Petroleum (4873 words)

	Winter of Discontent
		A rough-and-ready rule of thumb is that a $1-a-barrel increase in the price of oil increases the price of gasoline at the pump by nearly one cent a litre in Canada, says Mathieson.
		So if the price of gasoline is 77.5 cents a litre with oil at $34 a barrel, it wouldn't take much of a jump in oil prices to push the gasoline price past 80 cents in the Toronto area.
		Mathieson stresses that kind of a price spike wouldn't last long: Scotia Capital's forecast for the coming year is an average price of $27 a barrel, and Mathieson says that's on the high end of the spectrum of forecasts.
	www.naturallygreen.cleannorth.org /news11.htm (1118 words)

	Peak Oil
		The 1979 energy crisis and 1990 spike in the price of oil due to the Gulf War have had similar, albeit less dramatic effects on supply.
		That is countered by an important Saudi oil industry insider who says the American government's forecast for future oil supply is a "dangerous over-estimate."[6] Campbell argues that the USGS estimates are methodologically flawed (although he himself has admitted that he doesn't understand their methodology).
		However, oil and gas prices are notoriously volatile and price increases have been caused by numerous other factors, though there is a general agreement that increased demand has been the major factor, with such increased demand bringing the Hubbert peak closer than would have been predicted otherwise.
	www.ecozine.co.uk /PeakOil.htm (4710 words)

	Mineweb - GOLD AND SILVER ANALYSIS - The gold price - is it a question of the dollar or oil?
		The oil price, of course, is frequently a gauge of geopolitical tension and in the current environment it is hardly surprising to find that gold and oil are moving to some degree in tandem.
		Oil was clearly in a bull market, while gold prices fell, largely as a result of an increase in the value of the dollar which benefited at the time as the asset of last resort on the back of political considerations.
		Both the dollar and oil, therefore, are helping to contribute to the increase in the price of gold, while other underlying fundamentals, notably the increasing affluence in the grass roots purchasing regions, are underpinning prices.
	www.mineweb.net /mineweb/view/mineweb/en/page33?oid=18882&sn=Detail (853 words)

	MASSIVE OIL FRAUD Of The Recent Midwest Gas Price Spike
		Oil companies have purportedly reduced the level of imported crude by an amount nearly equivalent to the barrels released from the strategic reserve.
		There have been reports that a fleet of ships carrying heating oil just sailed out of ports on the Gulf and Atlantic coasts headed for foreign destinations and the draw down of heating oil inventories in the NE is underway.
		* The price spike was extremely harmful to the consumers and economy of the Midwest ($374.4 million in direct and $1.1 billion overall economic impact in Illinois alone during a 90 day period).
	www.rense.com /general4/oilf.htm (1506 words)

	Oil War News (2004-2005)
		Oil rigs are now drilling on land seized from fl African farmers - who have been killed, raped, and driven off their land by their own government through its proxy militias, known as Janjaweed, in a campaign of ethnic cleansing now in its third year.
		Oil has thus contributed indirectly and directly to the death of roughly 370,000 Darfurians and the displacement of some 3.5 million more, who are now dependent on outside aid for food and water.
		Oil prices are unlikely to shed the bulk of their recent big gains due to several factors including the demand/supply imbalance, lack of spare production capacity and security woes in Iraq and the Middle East, experts say.
	www.endgame.org /oilwarlinks2004-2005.html (21430 words)

	Crude oil price - Yemen increases crude oil prices
		The price of crude oil has passed through a historic valley to reach a nine-year high.
		The price of crude oil spiked in 1990 due to the Iraqi invasion of Kuwait and the Gulf War.
		NEW YORK: Crude oil prices look ready to slip this week on speculation that U.S. fuel stockpiles will be sufficient to meet demand.
	comlist.cn /mjbj/crude-oil-price.html (521 words)

	FNF: PEAK OIL between 2000 - 2010 SOURCE: Hubbert peak theory - Wikipedia, the free encyclopedia (Site not responding. Last check: 2007-11-01)
		Oil is also usable as a chemical feedstock (i.e., can be used as a base building material for chemicals and materials), whereas sources such as wind, nuclear and solar are not.
		1990 spike in the price of oil due to the Gulf War have had similar, albeit less dramatic effects on supply.
		Peak oil proponents point out that such technologies are much more costly than conventional oil and claim that they cannot be produced in sufficient quantities to replace declining supplies of conventional oil.
	www.hi.is /~joner/eaps/glob_Peak_Oil.htm (4517 words)

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