Greece Hopes Oil In The Ionian Will Help Its Economic Recovery


Greece’s economic problems are well documented around the world, and a major contributor to the economic troubles experienced throughout Europe.  Greece must find a way to reduce their deficit if they have any hope of economic recovery. Several years ago some basic geological surveys were made in the western seas around Greece to determine the potential for gas and oil reserves. Currently Athens spends between €10 and €20 billion ($13.3-$16 billion) on oil imports each year, this equals about 5% of its GDP. The energy ministry…

Read more...

More from Commodities

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Market Bears Have Devoured Gold Prices

Market Bears Have Devoured Gold Prices

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets

Oil Falls as J.P. Morgan Cuts Price Forecast, Producers Ramp Up Drilling

Oil Falls as J.P. Morgan Cuts Price Forecast, Producers Ramp Up Drilling

Gold to Skyrocket as Italian Rebellion Unfolds

Gold to Skyrocket as Italian Rebellion Unfolds