Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (53495)	9/19/2004 6:03:28 AM
From: elmatador	Read Replies (2) of 74559

We'll reach a time when the oil under control of non-OPEC countries (North Sea, Australia, Canada) will be extracted down to the very last drop. Oil under OPEC (Iraq, Saudi Arabia, Iran) will be left under the earth's crust. See why: <<"Australia is using oil three times faster than it has been finding it and has been doing so for the past seven years,">> Next step is not to put money in the Middle East. <<AUSTRALIA'S dependence on costly imported oil would be reduced and the focus shifted to cleaner fuels under a $500 million scheme announced by Labor today>> Keep oil running will cost a lot of money: <<For instance, if slow world growth continued until 2010, investment of $US70 billion might be required, but if growth proceeded unchecked by higher oil prices, $US95 billion might be needed.>> And most of that money is pointing to be mainly thrown into the Middle East (OK, we can say that Putin's Russia is more reliable. How much relaible is another story) Billions needed to fuel oil needs: OPEC By Nigel Wilson 09sep04 theadvertiser.news.com.au

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