What is on the energy horizon?

Inside Story asks who gains from the price surge and who loses [GALLO/GETTY]

After oil crashes through the $100-a-barrel mark, what is on the energy horizon? Who are the winners and losers – and is the need for alternative power sources all the more urgent?

 

While some predict the market will soon steady, others say the longer term outlook is grim, with prices hitting $150-a-barrel in the next three to five years. That drop is allowing the US economy to reap rewards. American products – from Caterpillar tractors to Boeing jumbo jets – are benefiting.

But, the dramatic surge in oil revenue along with the weakening dollar has sparked a rise in inflation in the Gulf states – hurting most, those who have the least. In recent months, it has wiped out much of the gains from years of hard labour for the thousands of South Asian workers, who recently rioted for better pay and working conditions in the UAE.

 
Inside Story will discuss both negative and positive implications of the latest oil price rise.

 

Watch part one of this episode of Inside Story on Youtube

Watch part one of this episode of Inside Story on Youtube

This episode of Inside Story aired on Sunday, January 6, 2008