Oil on the Boil

It was a cold night that day, after chatting for more than two hours at Barista(a Coffee Place) I and my friend separated bidding farewell to each other. On my return trip to home, the fuel in my bike went to into reserve fuel, So I just headed for a near by Fuel station. To my dismay, the Fuel station seemed to have only premium petrol. Out of no choice, I filled premium petrol on that day went to home. But the incident spurred me into thinking why there is a shortage of petrol and the oil prices being so high.To start of off, oil was pretty cheap compared to the prices it is selling now. In 1998 price of oil was around 35$ a barrel ( A barrel is roughly equal to 159 litres). Today world's most profitable company is Exxon Mobil, an US oil major with yearly turn over of 40billion dollars, thanks 140$ a barrel , oil price.

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