Energy Recovery Won't Be Easy in '09
Though seasonal patterns and supply cuts might prop up petroleum prices at certain points next year, analysts and traders are nearly certain that the record oil levels reached during the summer of 2008 won't be seen again any time soon.
Though oil surged to nearly $150 a barrel in July, it has come down to less than one-third of its summer height as demand from consumers and businesses around the world slumped. Other products, like natural gas and heating oil, followed suit.
Forecasting groups and economists are predicting that the downturn will last though a good deal of 2009, if not longer, a trend does not bode well for companies that rely on strong prices to remain profitable.
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