FTW: WE DID IT!
World's Seven Largest Economies (G7) Admit They Have No Idea How Much Oil Is Left - Issue Emergency Call for Transparency at DC Summit
WASHINGTON, Oct 1 (Reuters) - Worried soaring oil prices could hurt the best global prospects in years, finance chiefs from wealthy nations met on Friday to try to work out what lay behind the surge and how to buffer the economic expansion.
Group of Seven finance ministers and central bankers met at the tightly guarded U.S. Treasury building over lunch and were to work through the afternoon before a dinner with Chinese counterparts that has currency reform on the menu.
The officials will set out their world-view at about 5:45 p.m. EDT (2145 GMT) in a communiqué sources said would include a call to bolster oil-market monitoring to make it easier to discern if scarce supply, hefty demand or market speculation lay behind crude's drive to record levels.
The answer to this question is critical.
Thursday, October 07, 2004
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