Tuesday, December 13, 2005

High Oil Prices here to stay

Here is a shocker...don't expect oil prices to drop much further anytime soon.

OPEC ministers and the U.S. Energy Department delivered a chilling message to consumers Monday: High energy costs are here to stay.

At a meeting in Kuwait, members of the Organization of the Petroleum Exporting Countries hinted at possible production cuts next year — a move that would boost oil prices. Federal energy forecasters, meanwhile, issued revised projections showing sharply higher crude prices extending until at least 2014.

Could a warning on Natural Gas prices be next?