Production Run

Oil Shortage in 2010

As we all realise we are currently in the middle of an all out economic crisis, every sector is feeling the wrath and most importantly people left, right and centre are being made redundant and losing there work it what could only lead to devastation for there families.

One of the worst effected industries at the moment though has to be the huge oil industries; we are even seeing the biggest oil millionaires in the world start to cut back on expenditure and make staff redundant.

But as we already know things will prevail and things will get a lot better than they currently are, recently the International Energy Agency has said that we could be in huge oil supply crunch by the time we hit 2010. At the monent there seems to be no concerns as the demand for oil is very low, but when the market recovers there will be a lot of demand and if there is no investment then we could have an oil crunch.

Oil's rally from below $20 in 2002 to a record high near $150 last year was fuelled in part by growing demand from China and other emerging economies which strained supplies. The oil demand slowed down a lot in 2009 due to the shear devastation of the banking crisis that spread throughout the world.

But as the economy improves, sectors will get better and if the oil industry does not get the backing it needs then production of oil will become minimal. We would have to pay more for our heating oil and our car fuel as the heating oil suppliers would have no option but to increase the heating oil prices to make them a healthy profit.

2008 Bluecoats Knockout full production run (7/22)