When energy prices are as depressed as they are now, low-cost producers have a big edge over their competitors. Oil prices increased slightly in March, but a barrel of oil, which 30 years ago sold for an inflation-adjusted $14, now commands only a dollar more. Natural gas prices are similarly depressed. A Mar. 9 report published by an arm of the U.S. Department of Energy forecasts that world oil prices won't exceed $15 per barrel until the years 2000 or 2001.
展开▼
