WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2004-05-17 Time: 13:23:05 Posted By: Jan
Petrol prices will rise by about 33c a litre in June, bringing motorists perilously close to paying R4,70 per litre for 97-leaded at the coast, and R5 per litre in far-flung areas.
Colin McClelland, director of the South African Petroleum Industry Association, says a factor contributing to the rising price of oil is the worldwide demand outstripping supply by about two million barrels a day.
“What can turn this around is if demand drops. The petrol price will fall like a stone if consumers around the world each find a way of saving just five percent of what they use daily – at least until Opec (the Organisation for Petroleum Exporting Countries) cuts production again.”
Opec managed the price by either increasing production to meet extra demand, or reducing it to push the price up. While oil producers everywhere else were pumping out as much oil as possible, Opec, and in particular Saudi Arabia, often produced less than they could.
McClelland said stocks were now running down because oil production was at about 75 million barrels a day worldwide, while demand was at between 76 million and 77 million barrels a day.
The strongest demand for oil was coming from the American economy’s current state of rapid growth, as well as from China and the Far East.
South Africa’s draft Energy Efficiency Strategy recognised that energy consumption was higher than it should be, and that consumers had to become aware of the cost benefits of energy efficiency measures.
Part of the strategy was a focus on returning to rail instead of road transportation.
In the meantime, the price at the pumps also depended on the rand either strengthening or weakening.
“If the rand gets stronger and the international crude oil price drops, the price at the pumps could go back down again,” said McClelland.
This article was originally published on page 5 of The Cape Argus on May 17, 2004
Source: Independent Online (IOL)
URL: http://www.iol.co.za/index.php?click_id=13&ar…/p>