PEAK OIL - The New Y2K or The Beginning of the Real End? Message Board

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Gold/Mining/Energy : PEAK OIL - The New Y2K or The Beginning of the Real End?

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From: Doug R	6/20/2005 12:20:08 AM
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From the Dow Jones Newswires: Libyan Oil Minister Fathi bin Shatwan said Wednesday that news that Iraq's oil exports would flat-line at a low 1.5 million barrels a day for the rest of the year were a shock and made the supply-demand balance far more critical. Iraqi Oil Minister Ibrahim Bahr al-Uloum said early Wednesday that the country's oil exports in the fourth quarter of this year would be virtually unchanged over its current 1.5 million barrels a day. Shatwan told Dow Jones Newswires: *"That's an extra 300,000 barrels a day less* than we were expecting. It makes the situation even more critical."** ____________________________________________________________ Add the North Sea decline, Norway's decline, Mexico's about to go into decline, Russia flat line, and no takers for Saudi heavy sour, we have a big crunch comming.

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