WASHINGTON, DC [HIGH-RES]
March 10, 2008 - Jointly organized by the World Bank and George Washington University, a two day Global Finance Forum on Oil Price Volatility, Economic Impacts, and Financial Management was opened with a keynote speech given by Graeme Wheeler, Managing Director, World Bank.

"Oil prices have more than quadrupled since 2002. In real terms, they are higher than the peak reached in 1980. Oil price volatility in recent years has been much higher than in the 1990s and the implied volatility of traded options from Brent Crude suggests that future volatility will continue.

The reasons for the supply demand imbalance are well known. The more interesting question is whether the forces shaping the demand and the supply curves will shift. Some big variables are in play." -- Graeme Wheeler

WASHINGTON, DC [HIGH-RES]
March 10, 2008 - Session I keynote speaker Jeffery Currie, Chief Strategist and MD for Global Investment, Goldman Sachs. This session focused on the implication of high and volatile oil prices for international capital flows and the global economy.

Photo: © Simone D. McCourtie/World Bank

WASHINGTON, DC [HIGH-RES]
March 10, 2008 - March 10, 2008 - Session I keynote speaker Steven Kamin, Associate Director, International Finance, Board of Governors, US Federal Reserve.

Photo: © Simone D. McCourtie/World Bank

WASHINGTON, DC [HIGH-RES]
March 10, 2008 - Session II "Looking into the future: Are High and Volatile Oil Prices Here to Stay?", keynote speaker Shane S. Streifel, The World Bank.

Photo: © Simone D. McCourtie/World Bank

WASHINGTON, DC [HIGH-RES]
March 10, 2008 - Audience members listen to panelists at the Global Finance Forum on Oil Price Volatility, Economic Impacts, and Financial Management

Photo: © Simone D. McCourtie/World Bank

WASHINGTON, DC [HIGH-RES]
March 10, 2008 - Audience members take notes at the global forum.

Photo: © Simone D. McCourtie/World Bank