$10 Gas? The Obscure Maritime Rule That Could Make it a Reality | US News


A little-noticed rule requiring large ships to soon slash the air pollution they produce threatens to drive benchmark oil prices as high as $200 a barrel, send prices at the pump soaring to $6 or even $10 a gallon and crash the global economy just 17 months from now.

Goldman Sachs, Morgan Stanley and other industry experts have issued similar warnings about significant increases in oil prices to come.

The reason is the near-unanimous decision by the International Maritime Organization, a United Nations agency that oversees the shipping industry, to cut the amount of sulfur in the maritime fuel used by large ships from 3.5 percent to 0.5 percent.

Source: $10 Gas? The Obscure Maritime Rule That Could Make it a Reality | National News | US News

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