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["Lisa K.V. Perry" <lisakvperry AT gmail.com>]

>
> On May 23, 2008, at 7:52 AM, Clansgian AT wmconnect.com wrote:
>
> > A few years ago may analysts said that when world oil supply reached a
> > physical peak, when oil could not be extracted at a continuing
> > higher rate ........
>

This was from a daily newsletter that I receive:

> *The outlook for global oil supply "is a dangerous situation," * warned
> Fatih Birol, chief economist to the International Energy Agency. Birol and
> his crew just finished a study of about 400 oil fields across the world, and
> he announced yesterday that the IEA will lower its oil supply forecast in
> its next annual report. As far as we know, that's never happened before.
>
> "We are entering a new world energy order," Birol continued. "The prices
> are very high, and demand did not respond in the last few years as much as
> one would have expected. The growth in terms of production was not great. We
> did not see enough investment… The oil investments required [to meet future
> demand] may be much, much higher than what people assume."
>
Here's the link for the IEA, an interesting site:
http://www.iea.org/