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But sustained high fuel costs will strain its ability to cope, experts say, and the current run-up is already starting to bite.
He's skeptical of the 1970s parallels, arguing that the current run-up in oil prices is very different from the one back then, when crude surged practically overnight.
Iran, in contrast, forces foreign contractors to bear almost all the expense of cost overruns a massive risk for oil firms given the current run-up in the price of both materials and labour throughout the industry.Nationalist rhetoric often clouds the substance of the issue.
The current run-up in oil prices, while rapid by historical standards, has not been matched by a quick spike in the direct cost to consumers, since gasoline increases can sometimes trail increases in the price of crude oil by months.
While noting that price spikes in agricultural markets were not uncommon, the report suggested that the current run-up in prices was different because it had lasted longer and affected nearly all major food and feed commodities, instead of just a few crops.
The research firm said, "We believe the current run-up in the stock has been driven by optimism that the company's microprocessor business will contribute strong growth in earnings in 2005".
Similar(51)
I felt a numbing current run up my body and I began to scream, very loudly.
Of course, the problem for investors in Micron Technology, despite the current run up, is the volatile nature of the demand and pricing of memory.
Since the 1960's, the average bull market has lasted about 1000 trading days and the current run up has exhausted less than 27% of that time.
Since uranium is 20 times cheaper to find than oil, (in terms of finding cost's share of sale price), the current price run-up has already spawned hundreds of exploration companies, where there were only a handful a decade ago.
In the same way, through a thicket of plot, the idealistic social theories current in the run-up to the first world war are revealed as dubious, dangling articles of faith.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com