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Oil Price Rise Causes Global Shift in Wealth
Saturday, November 10, 2007

Iran, Russia and Venezuela Feel the Benefits

High oil prices are fueling one of the biggest transfers of wealth in history. Oil consumers are paying $4 billion to $5 billion more for crude oil every day than they did just five years ago, pumping more than $2 trillion into the coffers of oil companies and oil-producing nations this year alone.



Note: Click here to read this article in the Washington Post
Also in Energy in the News:
· US takes wind-power lead   (07/23/08)
· Gore sets energy goal for 2018   (07/18/08)
· Texas oilman T. Boone Pickens wants to supplant oil with wind   (07/08/08)