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DrumBeat: July 1, 2008

Posted on July 01, 2008

Peak Oil: IEA Inches Toward the Pessimists CampBut the juiciest nugget? The conservative IEA appears to be inching ever-closer to the peak-oil crowd. Supply simply can t keep pace with demand everybody with an oil well has the taps open, but there s not much left in the keg. Oil fields are aging quicker than free-agent pitchers, and the global oil industry has to run faster just to stay in place.....Politicians can pick their bogeyman be it speculators, OPEC, or Democrats. But more and more it seems like the oil connundrum boils down to an age-old truth: Finite supplies can ...

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