Oil supplies have not peaked [View All]

[JCMach1]

Source: Gulf News

Oil at $100 a barrel should give exporters every incentive to pump more, but their difficulty in doing so shows the world is struggling to sustain production.

A growing number of leading industry figures - the CEOs of Total and ConocoPhillips among them - now question mainstream forecasts for supply, suggesting the era of "plateau oil" is nearer than many in the business have admitted.

While global oil demand is projected to grow to more than 100 million barrels per day later this century, some argue it may not be possible to boost flows beyond the current rate of some 86 million barrels...

Read more: http://gulfnews.com/business/Oil_and_Gas/10180652.html

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Good news and bad news in this... For peak oil theorists, you have to push your model back a bit. However, the article also admits the major problems on the supply side.