New Zealand Oil Price Predictions (2008)
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Source: McCormack Rankin Cagney for NZTA (August 2008) Managing transport challenges when oil prices rise.
New Zealand Oil Price Predictions (2008)
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Source: McCormack Rankin Cagney for NZTA (August 2008) Managing transport challenges when oil prices rise.
What does this mean for New Zealand?
In 2008 a local energy consultancy produced an analysis of future oil prices to 2028, for the New Zealand Transport Agency. This is what they found: Prices increasing quite sharply to about $150 per barrel by mid 2011, followed by a levelling out. They state that it becomes difficult to predict prices the further out they go.
They also caution that oil prices may be volatile: moving up and down, possibly quite sharply, within the top and bottom ranges. For many people the rapid changes in oil price could be more of a problem than simply a high price.
Source: McCormack Rankin Cagney for NZTA (August 2008) Managing transport challenges when oil prices rise.