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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (49865)	8/16/2006 5:54:43 AM
From: IQBAL LATIF	Read Replies (1) of 50167

There's (going to be) plenty of oil Global oil output to surge 25% by 2015 August 15, 2006 iranian.com PARIS -- Oil and natural gas production capacity should surge by 25% to 110 million barrels per day by the year 2015 - the result of investments in new and unconventional petroleum sources like oil-sand deposits and oil shale, according to a study conducted by Cambridge Energy Research Associates (CERA). The report flies in the face of most predictions of peaking oil output that is threatening economic stability. But the research firm's forecast, if accurate, "would ease the current perception of taut supplies that have driven oil prices up 25% so far this year and 285% since the end of 2001," according to Investor's Business Daily. While presently, there are only approximately 2 million barrels worth of spare crude capacity - considerably less than the amount available just 10 years ago - Cambridge predicts there will be some 12 million by 2010. iranian.com

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