Bush Administration's Media Manipulation--MediaGate? Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Bush Administration's Media Manipulation--MediaGate?

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Doug R	3/16/2005 3:05:10 PM
	of 9838

Algeria's oil minister says OPEC has no spare capacity left. That pretty much means the world has no spare capacity left. Excerpt: OPEC has reached its production limit, and trying to stretch output by one million barrels per day isn't likely to lower oil prices, Algeria's minister for energy and mines said. Chakib Khalil said prices were high because of world economic growth — particularly in the United States and China. Algeria is one of the 11 members of the Organization for Petroleum Exporting Countries. "OPEC has reached its production limits. It doesn't have much production capacity," he said at the opening of an industrial plant in the western town of Arzew, according to newspaper reports on Saturday. Meanwhile, the International Energy Agency has repeatedly revised its 2005 forecast for worldwide petroleum demand — upwards. Reuters: World oil demand will grow even faster than expected this year as a harsh end to the northern winter and robust growth in the United States and China pump up consumption, the International Energy Agency said on Friday. Estimated demand growth this year has been revised up by 290,000 barrels per day (bpd) to 1.81 million bpd, taking annual global consumption to 84.3 million bpd, the IEA said in its monthly Oil Market Report. [...] Rapid demand growth and disappointing supply forecasts have tightened the oil supply outlook this year helping push oil prices up to near-record highs. [...] The IEA has revised its estimate for 2005 world demand growth up by 500,000 bpd in the last three months... Demand still trying to grow exponentially. Production maxed out. What will the oil peak look like? Welcome to the future, which is already in progress.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next