Oil Prices Hit New High (Again!)

Relevant clips are in short supply this afternoon, but we can't ignore some important news from the commodities markets --oil prices are still on the rise, with crude oil reaching a new record of nearly $64 a barrel today.

For most of the past two years, oil markets have become extremely volatile, a reflection of the lack of spare production capacity, insufficient refineries, strong demand from consumers in the United States and China, and supply disruptions from such big producers as Iraq or Venezuela. That has led to a doubling of oil prices over that period.

Come back tomorrow morning for more (hopefully) news from the NEI Clip File.

Technorati tags: Nuclear Energy, Environment, Energy, Politics, Technology, Economics