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WASHINGTON -- This weekend, The Washington Post launched a new series called "Oil Shock," aimed at investigating the multitude of variables contributing to the spike in gas prices and what's in store for the oil and energy industries moving forward.
Energy Correspondent Steven Mufson kicked off the series on Sunday with an overview of current market conditions. Among questions he asked industry analysts were: Why have prices increased so dramatically? Why are they unlikely to come back down over the long-term? How will this new reality recast the way people live? What will the future of the oil and energy industry look like?
On Monday, Asia Business Correspondent Ariana Cha reported on China, where, due to an increase of the country's middle-class motorists, it is quickly becoming a key player in the ever-increasing demand for oil.
Today, Mufson shifts his focus to determining why the oil supply from fields in places such as California, Mexico and Saudi Arabia are not currently able to meet market demands. By weighing the costs and benefits, he will try to answer the following questions: Have these countries passed their production peak? Should the U.S. consider drilling in fields off the coast of California?
Next month, The Washington Post will run a series of articles surrounding America's car culture. Reporter Eric Weiss will investigate the country's long dependence on cheap gasoline while Mufson will explore renewable energy and the future of the industry.
To read the full series, visit: www.washingtonpost.com/oilshock