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Refiners are expected to be hit by the increase in petroleumprices.
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But on the consumer level, higher petroleumprices can act as a damaging boomerang.
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If Iran stays engaged, it could take even more pressure off of petroleumprices.
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Any increase in petroleumprices is politically sensitive.
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The United States dropped ambitious plans for solar and wind power after petroleumprices fell in the 1980s.
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The incentives also come at time that sharply lower petroleumprices have made alternative energy projects less cost competitive.
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With so many short positions now squared up, however, short-covering will provide less support to petroleumprices going forward.
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As petroleumprices continue to increase, it is likely that biofuels will play an ever-increasing role in our energy future.
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Critics say federal attempts to constrain emissions of greenhouse gases will result in higher petroleumprices and retard U.S. growth.
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AP Moeller-Maersk's oil unit cut $1 billion off its annual budget for capital expenditure after petroleumprices plunged.
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Plummeting petroleumprices have helped the majority of African countries that are oil importers, but are hitting exporters like Nigeria.
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Italian Economy Minister Giulio Tremonti proposed this month introducing an extraordinary tax on oil company profits caused by record high petroleumprices.
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Bodman again rejected that suggestion, saying the amount of oil going into the stockpile would not have much effect on petroleumprices.
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Airlines and aircraft manufacturers, anxiously watching petroleumprices wreak havoc on their finances, are eager to give these new alternatives a try.
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The new regulatory pressures included increased electricity tariffs and petroleumprices in Pakistan and tightening of regulations of voice calls via internet in Bangladesh.
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The immediate cause of the crisis can be traced to the world-wide impact of the OPEC decisions that quadrupled petroleumprices within a year.