Don’t get accustomed to cheap oil

Cutbacks in exploration now will help fuel price increase when demand heats up again; some see oil topping $150 per barrel

John Porretto

Associated Press Writer

All that money you’re saving these days at the gas pump? You might want to put it in the bank. The same cheap oil that’s providing relief to drivers and businesses in an awful economy is setting the stage for another price spike, perhaps as soon as next year, that will bring back painful memories of....

    [additional news subjects in this story]

Spike could be as soon as ‘09

Production could drop 7%

Annual investment requirement put at more than $1 trillion