The knock-on effects of peak oil - guardian.co.uk

really is running out faster than is generally realised then the real price of crude should be well over double the current already high price of about $75 a barrel, experts believe.

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A level of $200 a barrel was predicted as recently as last year by the investment bank Goldman Sachs and the price did hit nearly $150 just 18 months ago, at the height of the global trade boom. The sub-prime crisis, collapse of Lehman Brothers and subsequent recession have led to trauma in Dubai, which was built up on hot petrodollars from the Middle East producers such as Saudi Arabia.

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