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Politics : Foreign Affairs Discussion Group
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To: mistermj who wrote (207023)10/26/2006 5:38:11 PM
From: Keith Feral  Read Replies (1) of 281500
 
The replacement of reserves is not keeping up with the demand for oil, pure and simple. We can oversupply the market in the short term to act like there is not a long term problem, but oil companies are under no obligation to produce reserves at unacceptable returns. Even the coal companies are hacking back production for next year. There is no reason to produce excess reserves.
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