Oil prices reach 114 USD a barrel


Oil, the headlong rushOops, we did it again. Oil prices are again on the rise and reached recently $114 a barrel. This is their highest levels since 2008. Fears of current events in Iraq are explaining this. As Bloomberg noted :

” The international benchmark surged above $114 on June 13 for the first time in nine months as militants routed the Iraqi army in the north and advanced toward Baghdad, threatening to ignite a civil war. “

Given how current cars are vastly inefficient, it is to be hoped that the current move by Tesla – a famous luxury electric car manufacturer who ditched its patents – will spur investments in cheaper electric cars.

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