IRELAND - Stark warnings of job losses were made yesterday as international oil prices reached another record high, breaching the $74 (€60) per barrel mark for the first time.
Experts said there was no sign of the overall upward spiral abating, and a military strike on Iran could push oil prices well above $100 (€81) per barrel.
...In Limerick yesterday, an industry expert warned there may be further crude price rises on the way.
Speaking at a conference in the University of Limerick yesterday, Mathew Simmons, an investment banker and expert on global oil reserves, warned that production from giant oil fields in Saudi Arabia and other Gulf states may already have peaked, meaning imminent oil shortages.
Irish Independent
