petroleum refinery

It’s Happening Again: Russian, Saudi Arabian Oil Ouput To Be Frozen

Back in 2008, I witnessed the end of cheap oil as we know it — Oil prices surged to $147/barrel in November. That was when talk about alternative energy sources really took off. Oil demand plummeted, causing crude prices to fall from $147/barrel to $33.87/barrel between the months of November and December 2008. Petroleum prices…