Why Oil Continues Its Climb (1/2)
参考答案: The price of oil has risen to more than one hundred twenty dollars a barrel. Some experts say the most recent price increase is only the beginning. Experts at the investment bank Goldman Sachs have predicted that oil could reach two hundred dollars a barrel.
Unrest in oil producing countries has been partly to blame. Last weekend, a rebel group in Nigeria said it attacked an oil center in Bayelsa state. Nigeria is the eighth biggest oil exporter in the world.
Also, Iraq is slowly rebuilding its oil production ability. Iraq's industry minister says the country's oil production is currently at about two million barrels of oil a day. He says that could increase to five million barrels of oil a day in two to three years depending on how much foreign help Iraq receives.
The Venezuelan government's efforts to control its oil industry have increased tensions with foreign oil producers. And Russia, the world's second largest exporter, has also sought to increase government control of its energy resources.
Nationalization of oil resources often forces out foreign investment that would normally seek to increase supplies.
