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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: ChanceIs who wrote (95810)	1/17/2008 8:29:28 AM
From: CommanderCricket	Read Replies (2) of 206209

huh? ``People will run out of demand before they run out of oil,'' Davies said yesterday evening in Westminster, London. ``We are not short of resources to produce.'' Is this guy on drugs? World oil production rose by about 0.2 percent last year to 85.5 million barrels a day, according to the International Energy Agency. Crude oil futures reached a record $100.09 a barrel on Jan. 3 in New York and prices are up 75 percent from a year ago. but... Demand for oil is expected to rise 2.3 percent this year to an average 87.8 million barrels a day worldwide, the IEA, an energy adviser to 27 nations, said in a monthly report yesterday. Demand can't be 2.2 million bbls higher than supply unless the stuff is coming out of inventories. Amazing!

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