Have the oil companies got us over a barrel

A series of questions and answers relating to oil prices are presented. These address the following issues: the effects of Hurricane Katrina on US oil production, the cost of crude oil, the reasons why oil prices are not expected to rise indefinitely, the likely price that oil will stabilise at, the implications of a reduction in the cost of a barrel to $US50, the costs of petrol in the UK without added tax, the relationships between oil supply and the European and US economies, and the effects of the UK oil reserves on oil prices in the UK.