tag:blogger.com,1999:blog-7169279.post108792156080525008..comments2023-11-24T03:20:02.361-07:00Comments on Tufte's Economics Classes Blog - A Living Textbook: Supply disruptions could cause oil prices to rise, peaking around year 2010 costing $80 per barrelDr. Tuftehttp://www.blogger.com/profile/17397586052171706438noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7169279.post-1088203358683754602004-06-25T16:42:00.000-06:002004-06-25T16:42:00.000-06:00Two big factors in the declining production of oil...Two big factors in the declining production of oil around the world are geo-political. First, Iraq, potentially one of the largest producers of crude oil has been offline essentially since 1991 (due to war, embargo, another war, and now terrorism). Also, Venezuela's production is down because their dictator has gotten rid of a lot of oil workers he had political problems with, thus decreasing Dr. Tuftehttps://www.blogger.com/profile/17397586052171706438noreply@blogger.com