WASHINGTON, D.C.—July 28, 2008—In a series, "Oil Shock," The Washington Post illustrates the wide-ranging causes propelling gas prices upward in places around the world, and what that means for consumers and the future of the oil and energy industries.
The series began Sunday with an overview by Energy Correspondent Steven Mufson considering these and other vital questions: Why have prices increased so dramatically? Why are they unlikely to come back down over the long-term? How will this new reality recast the way people live? What will the future of the oil and energy industry look like?
Today, Asia Business Correspondent Ariana Cha reports on China, a key player in the steep increase in global demand for oil. China is the world’s fastest-growing car consumer and the explosion of car culture among the country’s middle-class is one of the major factors helping to drive oil prices higher.
On Tuesday, Steven Mufson considers why the oil supply from fields in California to Mexico to Saudi Arabia are not currently able to meet market demands. Have they already passed their production peak? To make up for the gap, should the U.S. consider drilling in fields off the coast of California? Mufson examines this and other alternatives, weighing the costs and benefits.
In subsequent pieces to be published in early August, Eric Weiss will look at how the modern American car culture, reliant on cheap gas, is unraveling, and Steven Mufson will explore renewable energy and the future of the industry.
The series includes multimedia and interactive elements online:
The full series is available at the following link: www.washingtonpost.com/oilshock
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